Banking Disruption Resource Center
The California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB), and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver, on Friday, March 10, 2023.
Shortly thereafter, U.S. Treasury Secretary Janet Yellen approved actions enabling the FDIC to complete its resolution of SVB in a manner that ensure that depositors of SVB have access to their insured and uninsured funds starting on Monday, March 13. Secretary Yellen took a similar action to ensure depositors of Signature Bank—which the New York Department of Financial Services took possession of, and appointed the FDIC as receiver of—would be made whole.
To keep our clients updated on the evolving situation and its potential impact on their businesses, we have created a Banking Disruption Resource Center featuring news, content and events from across the MoFo platform.
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Featured Resources
- Webinar
Implications of SVB's Collapse and the Current Banking Crisis
Join MoFo and the American Bankruptcy Institute for a webinar exploring SVB and the greater banking crisis.
- Webinar
Silicon Valley Bank Failure: What Does it Mean for Director Priorities?
Join MoFo and NACD for a webinar on top priorities and developments for directors to consider.
- Client Alert
FDIC Bank Receivership Frequently Asked Questions
In this alert, we address key client questions regarding bank failures and the receivership process.
- Client Alert
10 Tips for Fintechs in Navigating Sponsor Bank Relationships through this Banking Crisis
In this client alert, we give tips for fintechs looking to ride out the current crisis while maintaining or diversifying their bank relationships, protecting their customers, and remaining compliant.
- Client Alert
Federal Banking Agencies Exercise Emergency Powers During March 2023 Crisis
In this alert, we discuss the emergency powers exercised in connection with the March 2023 crisis.
- Client Alert
Silicon Valley Bridge Bank and Signature Bridge Bank Are Open for Business
In this alert, we detail the key information that customers need to know.
- Client Alert
Liquidity Crises and Fiduciary Duties of Directors of Early-Stage Companies
In this alert, we discuss the fiduciary duties of directors of early-stage companies and steps to mitigate risks.
- Client Alert
Navigating Contracts with FDIC Receiverships and Bridge Banks
In this alert, we answer questions concerning the receivership and the effect of the transfer of assets, including contracts, to the bridge banks.
- Client Alert
10 Tips for Navigating a Liquidity Crunch as a Startup or Emerging Company
In this client alert, the Morrison & Foerster Business Restructuring team provides 10 tips for navigating a liquidity crisis as an emerging company.
Key Contacts
- Carrie H. CohenInvestigations
- David A. EphraimBanking + Finance
- Anna Erickson WhiteSecurities Litigation
- Jordan EthSecurities Litigation
- Michael R. GlaserEmerging Companies
- Alex IftimieCrisis Management
- Jeremy R. MandellBank Regulatory
- Jennifer L. MarinesBusiness Restructuring + Insolvency
- Andrew R. TurnbullEmployment + Labor
- Michael SchulmanEmployment + Labor
- Brandon L. Van GrackCrisis Management
- Christine Y. WongInvestigations
- Carrie H. CohenInvestigations
- David A. EphraimBanking + Finance
- Anna Erickson WhiteSecurities Litigation
- Jordan EthSecurities Litigation
- Michael R. GlaserEmerging Companies
- Alex IftimieCrisis Management
- Jeremy R. MandellBank Regulatory
- Jennifer L. MarinesBusiness Restructuring + Insolvency
- Andrew R. TurnbullEmployment + Labor
- Michael SchulmanEmployment + Labor
- Brandon L. Van GrackCrisis Management
- Christine Y. WongInvestigations
