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Silicon Valley Bank's former parent company files for Chapter 11 bankruptcy protection

SVB Financial Group filed for Chapter 11 bankruptcy protection on Friday, just days after US regulators seized control of its former division, the beleaguered Silicon Valley Bank.

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Silicon Valley Bank collapse is spreading panic to other US banks

Signature Bank in New York also closed after customers made a run on deposits. Trading was halted on regional banks after shares fell early Monday.

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