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Actualizado
This Friday, the United States seized the assets of Silicon Valley Bank after the 16th largest bank in the nation started experiencing a run and failed after depositors hurried to withdraw their money from their accounts after the bank's balance sheet spread.
This was the second biggest bank failure in US history, just behind Washington Mutual who went down during the financial crisis that affected the economy in 2008.
What to do if I have my money at Silicon Valley Bank?
The FDIC or Federal Deposit Insurance Corp. hasn't find a buyer for Silicon Valley Bank's assets just yet, with the bank's uninsured deposits now being locked up in receivership.
The FDIC assured that those who have insured deposits with Silicon Valley Bank will have their fund available by no later than Monday morning as they secure deposits for US investors especially when banks fail, securing up to $250,000 per depositor.
No fears of repeating a "Great Recession"
Silicon Valley Bank's meltdown isn't exactly setting off alarms regarding a financial crisis like they did in 2008 with Washington Mutual, as they majorly hae their assets in investment portofolios, which includes bonds that dropped in value after the FED's interest rates increase, as well as Treasuries.
