When Silicon Valley Bank collapsed on March 10, 2023, it was the largest bank failure since the Great Recession and the second largest in U.S. history. Foley is closely monitoring this fluid situation as the Treasury, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC) continue to react to changes in the banking system, including subsequent bank failures.
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The information presented on this resource page is not legal advice and is for general informational purposes only. Transmission and receipt of materials provided here is not intended to create an attorney-client relationship. The information covered here has been selected for a general audience, does not address any particular situation or fact pattern, and may omit considerations or issues that may be of interest to some readers. Readers should not act upon this information without seeking advice from professional advisers.
Also, please be advised that Silicon Valley Bank and Signature Bank and their successor bridge banks (collectively SVB and SB, respectively) are current or former clients of Foley & Lardner in unrelated matters. To the extent information about SVB and SB is shared in any of these materials, it is solely from public sources and is not confidential material. These receivership situations are rapidly-evolving, and the information presented here may change depending on future events. Visitors to the page are advised to consult official government websites or the news media for the most current information.