Here are the events that led up to the collapse of Silicon Valley Bank, which caused the government to put in place an emergency backstop for all banks.
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What happened to cause the collapse of Silicon Valley Bank? As is the case with many crises, it was a perfect storm, a rare combination of unpredictable factors.
There were no signs of a storm at Silicon Valley Bank as the COVID pandemic eased in early 2022. The tech sector prospered during the lockdown and funds poured into the bank. So did some of the money that was flowing into venture capital and tech startups in a big way. The bank grew from $50 billion in assets in 2018 to $209 billion at the end of 2022.
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