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The immediate crisis for technology companies with deposits with the Santa-Clara bank appears to have passed, after the US Federal Reserve announced an emergency $US25 billion package.
Former Treasury Secretary Larry Summers said Silicon Valley Bank made an "elementary" mistake in banking that led to its collapse and takeover by federal regulators.
Credit ratings agency Moody's Investors Service downgraded its outlook for the U.S. banking system on Tuesday after the ...
By Trevor Hunnicutt and Tom Westbrook
An indicator of credit risk in the euro zone banking system leapt to its highest since mid-July, as worries about contagion risks from the collapse of two U.S. banks compounded investor concerns about the impact on lenders of rising interest rates. The VIX volatility index, Wall Street's "fear gauge", neared six-month highs overnight, although futures pointed to a higher Wall Street open and European bank stocks recovered from falls earlier on Tuesday.