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Recent Developments at Silicon Valley Bank
We are working with clients regarding the Federal Deposit Insurance Corporation placing Silicon Valley Bank (SVB) into receivership. In particular, clients are evaluating (1) depository and cash management relationships with SVB, (2) lending relationships with SVB, (3) custodial arrangements with SVB as account bank and (4) hedge contracts with SVB as a counterparty. In addition, clients with near-term funding or liquidity needs, particularly for any payroll or trust fund accounts that may be held at SVB, may need to consider contingency plans to ensure there are no disruptions.
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Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.