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CNN commentator breaks down collapse at Silicon Valley Bank

CNN economic and political commentator Catherine Rampell explains what went wrong at Silicon Valley Bank, the collapse of which caused the second largest bank failure in US history.

02:43 - Source: CNN

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People line up outside of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit Insurance Corporation. Prior to being shut down by regulators, shares of SVB were halted Friday morning after falling more than 60% in premarket trading following a 60% declined on Thursday when the bank sold off a portfolio of US Treasuries and $1.75 billion in shares to cover  declining customer deposits.

CNN commentator breaks down collapse at Silicon Valley Bank

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