The dad or mum firm of failed Silicon Valley Financial institution can not entry about $2 billion in its deposits to the financial institution as a result of the corporate’s accounts had been frozen by federal regulators, in keeping with a brand new report late Tuesday.
The Wall Avenue Journal reported that SVB Monetary Group complained in chapter court docket Tuesday that the Federal Deposit Insurance coverage Corp. had improperly blocked its entry to accounts on the bridge financial institution created after Silicon Valley Financial institution folded.