Silicon Valley Lender collapse ripples across area sector

The collapse of Silicon Valley Bank (SVB), an establishment concerned in investment decision, loans and common banking providers for lots of technologies firms, could have ripple outcomes throughout the house market.

The California Division of Money Security and Innovation announced the closure of SVB on Friday (March 10), also revealing that the U.S. Federal Deposit Coverage Company (FDIC) was appointed as the receiver for the bank.

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