Silicon Valley Bank headquarters in Santa Clara, California. Photo: Philip Pacheco/Bloomberg Silicon Valley Bank Collapse Highlights Risk of Stuffing Deposits in One Bank
"I'm getting a lot of calls from clients concerned about having too much money concentrated in one bank," said Dolph Hellman, an Orrick Herrington & Sutcliffe partner.
March 16, 2023 at 08:41 AM
5 minute read
Financial Services and Banking
The collapse of Silicon Valley Bank is spurring a reckoning over the long-standing practice among venture capital-backed companies to keep the vast majority of their cash in a single financial institution, a concentration that leaves most of those deposits uninsured.
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