In Canada, the local “daughter” of the bankrupt Silicon Valley Bank has been placed under temporary government control, according to the Office of the Supervisory of the Country Financial Institutions (OSFI). DEA News.
“The Office of the Canadian Financial Conduct Authority has established temporary control over the assets of the Canadian branch of Silicon Valley Bank to protect creditors,” the statement said.
At the same time, the financial regulator has already made a request to establish permanent control over the Canadian branch of the SVB – in Canada, this bank is engaged in lending to corporate customers. It is stated that SVB does not have any commercial or private deposits in Canada.
Formerly Axios Portal estimated A “catastrophic” crisis in the U.S. banking system unless the U.S. government makes a plan to bail out Silicon Valley Bank (SVB) depositors by tomorrow.