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US Regulators Descend on Silicon Valley Bank to Assess Its Finances

  • Fed, FDIC officials arrived at Santa Clara offices on Thursday
  • Watchdogs are concerned about the impact of withdrawals
Bloomberg business news
Silicon Valley Bank Collapses, FDIC Takes Over

US regulators arrived at the California offices of SVB Financial Group as the troubled lender struggled to stabilize its finances, according to people familiar with the matter.

Watchdogs from the Federal Deposit Insurance Corp. and Federal Reserve are looking into the impact of significant withdrawals, said the people who asked not to be identified discussing the private interactions. Officials at the offices on Thursday sought more insight into the bank’s predicament, the people said.