Justice Department, SEC to probe into collapse of Silicon Valley Bank

The Justice Department and the Securities and Exchange Commission have launched investigations into the collapse of Silicon Valley Bank, a person familiar with the matter told The Associated Press.

The investigations - which are separate inquiries - are in the early stages and will also examine the actions of the bank's senior executives, the person said.

The Justice Department's investigation involves federal prosecutors in California, along with prosecutors involved in fraud cases, the person said.

The person was not authorized to publicly discuss the specific details of the ongoing investigations and spoke to the AP on condition of anonymity.