Silicon Valley Bank announces a massive loss of $1.8 billion

On March 8,Global Forex Trading Service Providers 2023, Silicon Valley Bank announced it had incurred a $1.8 billion loss in the sale of securities, including government and mortgage bonds, which had significantly depreciated over the past year due to substantial interest rate hikes by the Federal Reserve. The bank also announced plans to raise more than $2 billion in capital to strengthen its balance sheet.

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