SVB Financial Group said that Goldman Sachs was the acquirer of a bond portfolio on which it booked a $1.8 billion loss, a transaction that set in motion the failure of Silicon Valley Bank
thwarted as depositors fled and investors fretted SVB would have needed even more capital.
The portfolio SVB sold to Goldman Sachs on March 8 consisted mostly of U.S. Treasuries and had a book value of $23.97 billion, SVB said. The transaction was carried out "at negotiated prices" and netted the bank $21.45 billion in proceeds, SVB added.taken over by U.S. regulatorsGoldman Sachs' purchase of the bond portfolio was handled by a division that was separate from the unit that handled SVB's stock sale, according to a source familiar with the matter.
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