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ARTICLE · 20 MARCH 2023

Silicon Valley Bank Developments – Q&A For Startups And VCs

Mayer Brown
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SVB has been placed in receivership by banking regulators. This receivership applies to Silicon Valley Bank and not its affiliates. When a bank is in receivership...

United StatesFinance and Banking
Matteo Daste
Matteo Daste
Joaquin C De Baca
Joaquin C De Baca
Paul de Bernier
Paul de Bernier
J. Bradley Keck
J. Bradley Keck
Thomas Kiriakos
Thomas Kiriakos
Jeffrey Taft
Jeffrey Taft
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Q: Who runs SVB now?

A: SVB has been placed in receivership by banking regulators. This receivership applies to Silicon Valley Bank and not its affiliates. When a bank is in receivership, the regulators step in and take over bank operations. As a technical matter, the California Department of Financial Protection and Innovation (DFPI) announced it took possession of Silicon Valley Bank, citing inadequate liquidity and insolvency. The DFPI appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of Silicon Valley Bank. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB).

Q: We are unable to access our bank accounts at SVB. What can we do now?

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