Silicon Valley Bank No Longer Exists

Dear Client:   You've no doubt seen the deluge of coverage over the weekend and this morning on the collapse of Silicon Valley Bank - the second-biggest bank failure in US history after Washington Mutual's crash in 2008.  SVB is a major lender to the wine industry, but the majority of its business is done with start-ups and venture capitalists. Indeed, wine accounts for just about 2% of the bank's loan portfolio. But that 2% included more than 400 wine