The abrupt closure of three banks in a matter of days is continuing to ripple across the American economy. CBS News national correspondent Errol Barnett joined John Dickerson on "Prime Time" with the latest on the Silicon Valley Bank's collapse. Then, Jeff Guo, co-host for NPR's "Planet Money," helps break down what exactly happened to SVB.

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Earlier this week, the bank took a loss of $1.8 billion dollars on the sale of bonds fueled in part by the Federal Reserve’s rapid interest rate increases. Frightened customers rushed to withdraw $42 billion in deposits. NBC News’ George Solis has more on what will happen to companies who had money at the bank and the sellers using e-commerce site, Etsy that are now not getting paid. 

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#SiliconValleyBank #Finance #Markets

After Silicon Valley Bank's dramatic downfall, Treasury Secretary Janet Yellen insisted a government bailout is off the table.

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CNBC’s Jim Cramer weighs in on the recent news surrounding Silicon Valley Bank. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi 

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Aaron Klein, former deputy assistant secretary at the Treasury Department, discusses regulators' handling of Silicon Valley Bank.

#CNN #News

In an extraordinary action to restore confidence in America’s banking system, the Biden administration on Sunday guaranteed that customers of the failed Silicon Valley Bank will have access to all their money starting Monday. #siliconvalleybank #CNN #ArletteSaenz

CNBC’s Carl Quintanilla, Jim Cramer and David Faber discuss the news surrounding Silicon Valley Bank. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi 

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HSBC has agreed to buy the UK arm of collapsed US Silicon Valley Bank (SVB), bringing relief to UK tech firms who warned they could go bust without help.

Customers and businesses who have money deposited in SVB UK will be able to access it as well as other banking services as normal.

The Treasury said the deal with HSBC involved no taxpayer money and the Bank of England said deposits were secure.

HSBC said it paid just £1 for the SVB's UK arm after it failed on Friday.

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