FILE - Customers and bystanders form a line outside a Silicon Valley Bank branch location, Monday, March 13, 2023, in Wellesley, Mass. SVB Financial Group is filing for Chapter 11 bankruptcy protection, Friday, March 17. SVB Financial Group is no longer affiliated with Silicon Valley Bank or the bank’s private banking and wealth management business, SVB Private. SVB Financial Group ran Silicon Valley Bank up until it was seized last Friday.(AP Photo/Steven Senne, File)
March 17, 2023
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March 17, 2023 noon
Parent company of Silicon Valley Bank files for bankruptcy
The parent company of Silicon Valley Bank filed for Chapter 11 bankruptcy protection Friday, a week after the tech-focused bank failed in a sudden collapse that set off fears of wider problems in the global banking system.