Silicon Valley Bank shut down by regulators in biggest bank failure since global financial crisis more than a decade ago
covers up to $250,000 per depositor, per bank, for each account ownership category. It is unclear exactly how larger accounts or credit lines for companies will be impacted by the closure. The FDIC said it will pay uninsured depositors an advanced dividend within the next week, with potential additional dividend payments as the regulator sells SVB's assets.
The last U.S. bank failure of this size was Washington Mutual in 2008, which had $307 billion in assets.
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