Morgan Lewis - Silicon Valley Bank Shutdown - What You Need To Know
The fast-moving developments involving Silicon Valley Bank (SVB) and its financial stress are rippling throughout the financial services and emerging business sectors. | ||||||
The legal and practical issues are complex and raise numerous questions: What does the just-announced FDIC receivership mean for the bank and its affiliates, as well as their customers, creditors, and commercial counterparties? How, if at all, may funds be withdrawn? How are funds in money market accounts and Treasurys treated differently than funds in deposit accounts? Do investment funds and broker/dealers holding customer funds in SVB have obligations arising from the bank’s financial distress? How will the financial distress impact the bank’s counterparty obligations in the broad range of financial contracts and other commercial transactions to which SVB and its affiliates are a party? | ||||||
Morgan Lewis is well suited to identify and understand these issues and to advise clients on how best to protect their interests. Our SVB Task Force—encompassing partners from our banking regulatory, investment management, restructuring, emerging business, and SEC regulatory practices—stands ready to provide answers and guidance on these and other issues that will arise. |
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Visit the Silicon Valley Bank Shutdown: What You Need to Know page > |
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