SVB Financial commences Chapter 11 proceedings to reserve a value
- Believes it has $2.2 billion of liquidity
- Strategic alternatives process for SVB capital and SVB securities operations underway with significant interest
- Funding debt is roughly $3.3 billion in aggregate
- Has $3.7 billion preferred equity outstanding
the regional banks in the US are continuing under pressure in premarket trading:
- First Republic is down 19.81% at $27.50
- Comerica is down to -2.3% at $46.51
- KeyCorp is down -2.28% at $12
