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The Treasury Department issued a "systemic risk exception" allowing it to cover uninsured deposits at SVB and Signature Bank, which New York State closed on Sunday.

Canada's banking regulator seized SVB Financial Group's branch in the country and said it will seek a legal order to wind up the operation. 

The bank's tech-sector focus contributed to its rapid demise. But the reasons for its failure come down to the nuts and bolts of banking, and other banks may have similar vulnerabilities.

After the failure of Silicon Valley Bank on Friday, attention will be keenly focused on anything that gives clues about the next steps from the Federal Reserve and its global peers — or hints at greater spillover in the U.S. banking sector.

"We're nurturing our future clients," said CEO Ron Daniel.

The top five have more than $2.5 million in first mortgage loans as of September 30, 2022.

The abrupt downfall of Silicon Valley Bank prompted investors to question whether other banks that hold tech-related deposits could also be at risk. But one analyst said there could be opportunities for banks to add deposits from customers of the failed bank.

This week in banking news: Discover EVP Diane Offereins is retiring, Worldline enters the metaverse, SNAP pilots mobile payments and more.

Financial services firms are focusing on essential risk-related priorities, but must not lose sight of the importance of innovative technologies that drive business forward.

A $13.5 billion advance to Silicon Valley Bank months before its collapse is another sign that the Home Loan banks encourage risk-taking that can burden the Federal Deposit Insurance Corp. or even the system itself, critics say.