Large Bank Supervision Forum eBook

NONPUBLIC//FDIC INTERNAL ONLY

Onset of Turmoil: Sudden Failure of SVB • Uncertain information and compressed timeframes for analysis and response • Extraordinarily high level of uninsured deposits and significant unrealized losses • Immediate FDIC focus on depositors:

• Use of DINB to enable swift and easy access to insured deposits • Announcement of advanced dividend to ease impact on uninsured depositors

8 March

9 March

10 March

Signature struggled to meet cash demands at end of day

11:15am: FDIC appointed receiver of SVB, DINB formed Potential SVB bidder list and virtual data room created

5pm: FDIC informed of severity of bank run and likely failure of SVB

SVB shares fall 60%

SVB announced $1.8b loss on sale of securities

By the evening, about $42b of deposits left SVB

Silvergate announced self liquidation

FDIC mobilized to resolve Signature

Overnight response by agencies

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