Silicon Valley Bank Swiftly Collapses After Tech Startups Flee

<-bsp-bb-link state="{"bbHref":"bbg://securities/410992Z%20US%20Equity","_id":"00000186-cd66-dd6f-adaf-cff61b520000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Silicon Valley Bank became the biggest US lender to fail in more than a decade after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus from the tech startups that had fueled the lender’s rise.

Regulators stepped in and seized it Friday in a stunning downfall for a lender that had quadrupled in size over the past five years and was valued at more than $40 billion as recently as last year.

The move by California state watchdogs to take possession of the bank, known as SVB, and appoint the <-bsp-bb-link state="{"bbHref":"bbg://securities/3688Z%20US%20Equity","_id":"00000186-cd66-dd6f-adaf-cff61b540000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Federal Deposit Insurance Corp. ...