FDIC shuts down Silicon Valley Bank

Just The Facts

Silicon Valley bank was the 16th largest bank in the USA like two days ago.
It had well over two hundred billion dollars in assets at the time it was shut down.
The Federal Deposit Insurance Corporation is seizing those assets and creating a new bank called the Deposit Insurance National Bank of Santa Clara (DINB).
The FDIC has promised that insured depositors will get their deposits back by March 13, 2023
SVB is the second largest bank to collapse in U.S. history, beaten only by Lehman Brothers in 2008.