 "SVB, Silicon valley bank")
Investors and depositors tried to pull $42 billion from Silicon Valley Bank on Thursday in one of the biggest US bank runs in more than a decade, according to a Friday regulatory filing.
At the close of business on March 9, the bank had a negative cash balance of $958 million, according to an order taking possession of the bank filed Friday by California’s bank regulator, the Department of Financial Protection and Innovation.
The order shines light on the scale of the bank run faced by the lender, which was placed into Federal Deposit Insurance Corp. receivership by the state regulator.
