On Friday, March 10, 2023, Silicon Valley Bank was closed by the California Department of Financial Protection & Innovation and the FDIC was named Receiver. No advance notice is given to the public when a financial institution is closed. To protect depositors, on Monday, March 13, 2023, the FDIC transferred all the deposits, both insured and uninsured, of Silicon Valley Bank to Silicon Valley Bridge Bank, N.A. a full-service 'bridge bank' that will be operated by the FDIC as it markets the institution to potential bidders.


Information for Silicon Valley Bank Customers from the FDIC

FDIC: Are My Deposit Accounts Insured?

Joint Statement by Treasury, Federal Reserve, and FDIC

Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors