Silicon Valley Bank is shut down by regulators in biggest bank failure since 2008 crisis

A general view of the SVB website in L'Aquila, Italy, on March 11, 2023. - SVB Financial Group (SIVB.O) became the largest bank to fail since the 2008 financial crisis. The US Federal Deposit Insurance Corporation (FDIC) disclosed that it closed down Silicon Valley Bank (SVB) after the institution failed to raise sufficient capital to address its financial difficulties.