US authorities investigate Goldman Sachs’ role in Silicon Valley Bank collapse

US authorities have launched an investigation into Goldman Sachs‘ work with Silicon Valley Bank (SVB) in relation to the events that led to the collapse of the California-based bank. Goldman disclosed the probe in a recent securities filing, noting that they are cooperating and providing information to various government bodies. The investigation focuses on the bank’s activities for SVB in March, just before the tech-focused bank’s demise.

Goldman Sachs has faced criticism over its dual roles with SVB, in which it advised SVB and purchased distressed debt in a deal that played a crucial part in the bank’s collapse. Federal banking regulators seized SVB on March 10 following a run on deposits. The bank reported two days earlier that it had lost US$1.8 billion from the sale of US$21 billion in securities.

On the same day of the press…