Two weeks ago few people outside the tech industry had even heard of Silicon Valley Bank, the midsize California lender whose rapid implosion would end up shaking the foundations of the entire global financial system.
But then, on the morning of Friday, March 10, after clients withdrew $42 billion in the span of a single day, state and federal regulators swooped in to try to salvage what remained of SVB.
In the head-spinning hours that followed Silicon Valley Bank became a global household name, though hardly in a manner its founders would have hoped for: It was officially the second-largest bank failure in US history, after Washington Mutual in 2008.
Source : A closer look at the factors that led to the unforeseen collapse of Silicon Valley Bank.