The assets of Silicon Valley Bank’s Canadian branch have been temporarily seized by Canada’s banking regulator after the bank\’s collapse last week. US banking regulators were forced to close the bank after large sums were withdrawn by worried depositors, which has raised concerns about other banks that cater to the technology sector companies. The Office […]
Indian shares have hit a five-month low, pulled down by a fall in financial stocks prompted by Silicon Valley Bank\’s collapse. The Nifty 50 dropped 1.5% to 17,154.30, while Sensex slid 1.52% to 58,237.85. Easing fears of contagion, further rate decisions are due by several central banks, and US authorities have announced plans to limit […]
Canada\’s federal banking watchdog has taken over the Canadian operations of Silicon Valley Bank (SVB), the US tech lender, to prevent further financial risk. SVB did not hold a banking license in Canada but operated as a foreign bank branch. Regulators in the US and Britain took similar steps to combat the risk of the […]
Canada\’s federal banking watchdog has taken over the Canadian operations of Silicon Valley Bank (SVB), the US tech lender, to prevent further financial risk. SVB did not hold a banking license in Canada but operated as a foreign bank branch. Regulators in the US and Britain took similar steps to combat the risk of the […]