Silicon Valley Bank has been shut down by regulators

• Regulators shut down Silicon Valley Bank, putting it into FDIC receivership.
• Trading was halted for the bank prior to the announcement. 
• "At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank."

The California Department of Financial Protection and Innovation shut Silicon Valley Bank on Friday, the regulator said in a statement, capping off a rapid collapse for the firm.

"To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank," the regulator said in a statement.