Fearful depositors withdrew billions of dollars from the U.S. bank in a matter of hours Friday, forcing U.S. banking regulators to urgently close the California-based institution.
The statement notes Silicon's business in Canada is primarily lending to corporate clients, and that the branch does not hold any commercial or individual deposits in Canada. "I want to be clear: the Silicon Valley Bank branch in Canada does not take deposits from Canadians, and this situation is the result of circumstances particular to Silicon Valley Bank in the United States."Silicon Valley Bank served mostly technology workers and venture capital-backed companies, including some of the industry's best-known brands.
Convoy bank. Honk!
CC locuta
what
Money laundering.
The statement notes Silicon's business in Canada is primarily lending to corporate clients, and that the branch does not hold any commercial or individual deposits in Canada
Things to come to 🇨🇦 with raising interest rates on home condo owners with vehicles..🇨🇦 govt is destroying 🇨🇦s with families… You think people will vote for libs….Singh…next election … they are on their way out… Sorry Singh,, hate to break the news to you..will never be PM
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: financialpost - 🏆 7. / 85 Read more »
Source: nationalpost - 🏆 10. / 80 Read more »
Source: CTVNews - 🏆 1. / 99 Read more »