Canadian Regulator Seizes Assets of Toronto Branch of Silicon Valley Bank

A food delivery worker enters Silicon Valley Bank in Santa Clara, Calif., on Mar. 10, 2023. The Canadian Press/AP-Jeff Chiu

Canada’s banking regulator says it has temporarily seized assets of the Canadian branch of Silicon Valley BankSilicon Valley

Fearful depositors withdrew billions of dollars from the U.S. bank in a matter of hours Friday, forcing U.S. banking regulators to urgently close the California-based institution.