US customers of Silicon Valley Bank which are not covered by a government-backed insurance scheme have been rushing to sell their deposits to pay salaries and other operating expenses after the lender was shuttered by regulators.
SVB will reopen on Monday for insured depositors under the newly formed Deposit Insurance National Bank of Santa Clara, but it is not yet clear whether or when customers with more than $250,000 in their accounts will be able to access all of their money.
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