This is what is known so far about the bankruptcy of Silicon Valley Bank

The bankruptcy of SVB it has led to price falls of the largest European banks in the first hours of trading, despite the intervention of the US government and the Fed to insure deposits, which has dragged down the main stock market indices in Europe. What exactly happened?

-The difficulties of Silicon Valley Bank (SVB) are driving the price down and scaring the financial sector

Silicon Valley Group, parent company of Silicon Valley Bank (SVB), suffers a collapse of more than 60% on Thursday, March 10 at the end of the session on the Nasdaq, pointing to another collapse after the entity, closely linked to the ‘ tech’ sector, foresee losses of about $1.8 billion (1.704 billion euros) in the first quarter and an accelerated share placement of $1.75 billion (1.656 billion euros) to clean up the capital position.

-Silicon Valley Bank shares fall for the second day, weighing on the sector

Shares of the bank Silicon Valley Bank (SVB) plunge another 60% Friday in electronic business ahead of the opening of the Wall Street Stock Exchange, a drop that adds to Thursday’s and is hard-hitting the banking sector inside and out. the United States.

– US regulators are closing Silicon Valley Bank and will protect their deposits

That same day, financial regulators in the United States announced the closure of Silicon Valley Bank (SVB) due to lack of liquidity and insolvency and took steps to ensure the protection of all of its insured deposits.

-European banks fall swept along by the shock wave of Silicon Valley Bank

European financial institutions suffered a day of heavy stock market losses on Friday, dragged down by the SVB crisis.

-The US government rules out rescue operations for SVB and is looking for a buyer

US Treasury Secretary Janet Yellen ruled out a bailout for SVB on Sunday, seeking to distance herself from the situation of the 2008 financial crisis as the regulator searches for a buyer for the bank.

-EE. The US launches a plan to protect deposits and closes another bank

US regulators on Sunday launched a plan to protect SVB’s deposits after the collapse, while closing another banking institution, Signature Bank, under the same parameters.

-HSBC buys UK subsidiary of Silicon Valley Bank for £1

-Banking falls between 7% and 10% and the stock markets continue without recovering

The banking sector fell between 7% and 10% after initial trading phases on Monday and trailed the Ibex 35 up 4% after the SVB Financial bank intervened by the United States government on Friday following a significant flight of deposits.

Goldman Sachs rules out the Federal Reserve raising interest rates

The United States Federal Reserve (Fed) will not raise interest rates at next week’s U.S. Federal Reserve meeting because of the turbulence in the banking sector unleashed by Silicon Valley Bank’s (SVB) situation, according to forecast updates from analysts at Goldman Sachs.

-Biden: “Customers will get their money today”

US President Joe Biden has sought to reassure society by ensuring that the US banking system is safe after the fall of Silicon Valley Bank and Signature Bank. He has ensured that the customers of both banks have access to their money today.

-The Eurogroup will discuss the bankruptcy of the SVB and its possible consequences for the eurozone

Eurozone economy and finance ministers will discuss the bankruptcy of the US Silicon Valley Bank (SVB) at their meeting this afternoon, and in particular the possible consequences for the financial system of the common currency.