Silicon Valley Bank: inquiries launched into bank’s collapse and UK arm

Probes announced in the UK and US over failure of California lender as financial markets recovered from Monday’s turmoil

Inquiries into the collapse of Silicon Valley Bank (SVB) and its UK arm have been announced in Britain and America, as financial markets settled and banking shares recovered from Monday’s turmoil.

In the US, prosecutors at the Department of Justice (DoJ) as well as the stock market regulator, the Securities and Exchange Commission (SEC), are conducting separate investigations into the collapse of California lender SVB, which was taken over by the government after a run on its deposits.