SVB Financial files for bankruptcy, a week after Silicon Valley Bank's closure by regulators
Meanwhile, the unwinding of Silicon Valley Bank continues separately under FDIC supervision. The FDIC, Federal Reserve, and Treasury Department have already guaranteed all deposits at the bank, which is now called Silicon Valley Bridge Bank and is not part of SVB's bankruptcy filing.
"We are committed to finding practical solutions to maximize the recoverable value for stakeholders of both entities," he said.
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