Here is the latest regarding Silicon Valley Bank (“SVB”) and Signature Bank as of Sunday, March 12th according to the FDIC. We expect to learn more by COB Monday, March 13th:
Depositors will have access to all of their money starting Monday, March 13.
USA, Banking, Insolvency & Restructuring, BCLP, Insolvency, Federal Deposit Insurance Corporation (USA), US Department of the Treasury, Bank of England, Silicon Valley Bank
Introduction
The current geo-political climate is contributing to the rapid rise to inflation rates in many countries around the world. Governments have reacted with an inevitable increase to interest rates to try and offer some form of counterbalance to rising costs in an effort to stymy localised, and more widespread, economic recessions.
British Virgin Islands, Cayman Islands, Guernsey, Jersey, Luxembourg, Derivatives, Insolvency & Restructuring, Ogier, International Swaps and Derivatives Association