15:42 - 14.03.2023

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March 14, Fineko/abc.az. The collapse of Silicon Valley Bank has led to the loss of "millions of dollars" by pension funds around the world.

ABC.AZ reports that the losses affected, in particular, Swedish pension fund Alecta ($848 million) and the pension funds of California civil servants CalPERS ($67 million) and California teachers CalSTRS ($11 million).

Silicon Valley Bank was closed on 10 March. It was one of the Top 20 largest commercial banks in the U.S. Signature Bank was also closed.