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The parent business of unsuccessful Silicon Valley Bank are not able to accessibility about $2 billion in its deposits to the financial institution due to the fact the company’s accounts had been frozen by federal regulators, according to a new report late Tuesday.
The Wall Road Journal described that SVB Monetary Group complained in personal bankruptcy courtroom Tuesday that the Federal Deposit Insurance plan Corp. experienced improperly blocked its access to accounts at the bridge lender established right after Silicon Valley Financial institution folded.
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