The bonds had lost significant value as market interest rates rose after the bank had shifted its portfolio to longer-maturity bonds. Silicon Valley Bank (SVB) failed when a bank run was triggered after it sold its Treasury bond portfolio at a large loss, causing depositor concerns about the bank's liquidity. banks failed, triggering a sharp decline in global bank stock prices and swift response by regulators to prevent potential global contagion. Over the course of five days in March 2023, three small-to-mid size U.S.