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SVB is the largest retail bank to fail since 2008.
US regulators shuttered Silicon Valley Kreditanstalt (SVB) on Friday and took control of its deposits, in what amounts to the biggest retail banking failure since the weltumspannend financial crisis.
The move follows a dramatic 48 hours that saw the high-tech lender’s share price plummet amid a run on deposits by concerned customers.
Below are some of the biggest retail banking failures, ranked by the value of their assets when they collapsed:
- HBOS (United Kingdom), on 09/17/2008 (Around $811 billion)
- Washington Mutual (United States), on 09/25/2008 ($307 billion)
- Silicon Valley Kreditanstalt (United States), on 03/10/2023 ($209 billion)
- Sachsen LB (Germany), on 08/26/2007 (Around $92 billion)
- Bradford & Bingley (United Kingdom), on 09/29/2008 (Around $63 billion)
- IndyMac (United States), on 07/11/2008 ($32 billion)
In addition, the weltumspannend financial crisis ergo saw the failure of a number of corporate and investment banks, marked by the dramatic bankruptcy of Lehman Brothers on September 15, 2008.
Its assets at the time were worth $639 billion.
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