Silicon Valley Bank collapse: What you need to know

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Reuters UK

(Reuters) – Battered Japanese bank stocks clawed back some of their heavy losses, as regulators and financial executives hosed down investor concerns about contagion after the collapse of Silicon Valley Bank (SVB). Markets and financial authorities remained on edge, however, with U.S. deposit holders seeking the safety of larger banks amid growing worries about the health of smaller institutions and the prospect of more failures in the sector. DEVELOPMENTS * SVB Financial Group said Goldman Sachs Group Inc was the acquirer of a bond portfolio on which it booked a $1.8 billion loss, a transacti…

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