Silicon Valley Bank

How the Silicon Valley Bank Collapse Could’ve Put Wine Country in a Tailspin | Eater SF

"After a historic collapse on March 10, regulators shut down Silicon Valley Bank; I noted it wasn’t just a tech-bank — the Chronicle reports numerous wineries had worked with SVB for more than 30 years, one person called it “the gold standard” for banking in the wine industry, and since 1994 SVB had extended more than $4 billion in loans to wineries and vineyards. The Federal Reserve announced depositors' money is safe and accessible, a federal "bridge bank" has been established to allow access to funds, and the Fed will hold an auction to determine which larger institution will take over SVB." - Paolo Bicchieri