US lender Silicon Valley Bank fails after run on deposits

New York [US], March 11 (ANI) One of the most prominent lenders in the world of technology startups Silicon Valley Bank, struggling under the weight of ill-fated decisions and panicked customers, collapsed on Friday, forcing the US federal government to step in, The New York Times reported.

The Federal Deposit Insurance Corporation said on Friday that it would take over Silicon Valley Bank, a 40-year-old institution based