In what amounts to the largest retail banking collapse since the global financial crisis, US regulators shut down Silicon Valley Bank (SVB) on Friday and seized its money.
The action comes after a rollercoaster 48 hours that saw the share price of the high-tech lender crash amid a run on deposits by anxious clients.
According to the value of their assets at the time of their collapse, the following are some of the biggest retail banking failures:
- HBOS (United Kingdom), on 09/17/2008 (Around $811 billion)
- Washington Mutual (United States), on 09/25/2008 ($307 billion)
- Silicon Valley Bank (United States), on 03/10/2023 ($209 billion)
- Sachsen LB (Germany), on 08/26/2007 (Around $92 billion)
- Bradford & Bingley (United Kingdom), on 09/29/2008 (Around $63 billion)
- IndyMac (United States), on 07/11/2008 ($32 billion)
The dramatic bankruptcy of Lehman Brothers on September 15, 2008, was one of many corporate and investment banks that failed as a result of the global financial crisis.
At the time, the value of its assets was $639 billion.
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