secwatch.observer — SEC 8-K summary
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Issuer:     SVB FINANCIAL GROUP (—)
CIK:        0000719739
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001193125-23-070254
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.01
LLM model:  deepseek-v4-flash:cloud@v2

SVB Financial subsidiary sold $23.97B securities portfolio at $1.8B loss to Goldman Sachs on March 8
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- Silicon Valley Bank sold AFS securities with book value ~$23.97B for net proceeds ~$21.45B, incurring after-tax loss of ~$1.8B.
- Buyer: Goldman Sachs & Co. LLC; sale completed on March 8, 2023, prior to FDIC receivership.
- The sale reflects SVB's attempt to raise cash amid a deposit run that led to its collapse.
- Transaction occurred before the bank was closed by regulators on March 10, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/719739/000119312523070254/0001193125-23-070254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/719739/000119312523070254/d487554d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-070254

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer