SVB Financial goes bankrupt

Bank ‘believes’ it has about $2.2 billion of liquidity and counts its equity in SVB Capital and SVB Securities among its assets

SVB was the biggest bank to fail in more than a decade, with about $209 billion in total assets as of the end of last year,

Silicon Valley Bank’s former parent company filed for bankruptcy a week after a run on deposits prompted regulators to seize its banking unit.

SVB Financial Group listed assets and liabilities of as much as $10 billion each in a Chapter 11 petition filed in New York. Broker-dealer SVB Securities and venture capital arm SVB Capital aren’t included in the filing, according to a statement.

Because Silicon Valley Bank was a California-chartered commercial bank and part ...