BBCNEWS BBC World News America June 4, 2024 21:02:00
When you need them. small businesses who deposit their money will be safe in knowing they can pay their workers and pay their bills. hard—working employees can breathe easy as well. let's take a look at why silicon valley bank collapsed. until last friday it was the 16th largest bank in the us, worth more than 200 billion dollars. the bank was heavily invested in us government bonds, which lost significant value due to rising interest rates. many of the bank's customers started drawing on their deposits in the face of worsening economic conditions. svb didn't have enough cash on hand, and so...