On March 8, 2023, Silicon Valley Bank announced it had incurred a $1.8 billion loss in the sale of securities, including government and mortgage bonds, which had significantly depreciated over the past year due to substantial interest rate hikes by the Federal Reserve. The bank also announced plans to raise more than $2 billion in capital to strengthen its balance sheet.
Silicon Valley Bank announces a massive loss of $1.8 billion
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On March 8, 2023, Silicon Valley Bank announced a loss of $1.8 billion from the sale of securities, including Treasury and mortgage bonds.
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Bankruptcy
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