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News release For immediate release OTTAWA - March 12, 2023 – Office of the Superintendent of Financial Institutions Canada Today, the Superintendent of Financial Institutions moved to protect creditors by taking temporary control of the assets of the Canadian branch of Silicon Valley Bank, as well as issuing notice that he intends to seek permanent control of its assets and requesting that the Attorney General of Canada apply for a Winding-Up Order. Silicon Valley Bank is headquartered in the United States and operates in Canada as a Foreign Bank Branch based in Toronto that is supervised by the Office of the Superintendent of Financial Institutions (OSFI). Its business in Canada is primarily lending to corporate clients. This branch does not hold any commercial or individual deposits in Canada.

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Canada’s financial regulator announces it is “taking temporary control of the assets of the Canadian branch of Silicon Valley Bank”


Uploaded by KZN02 Mar 12, 2023 at 05:54PM EDT

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Origin Entry: Silicon Valley Bank Collapse / SVB Failure

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Silicon Valley Bank Collapse / SVB Failure - Canada’s financial regulator announces it is “taking temporary control of the assets of the Canadian branch of Silicon Valley Bank”

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Uploaded Mar 12, 2023 at 05:54PM EDT

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Silicon Valley Bank Collapse / SVB Failure

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@btaplatt

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