How Goldman’s plan to back Silicon Valley Bank crumbled

Silicon Valley Bank executives went to Goldman Sachs Group Inc. in late February looking for advice: They needed to raise money but weren’t quite sure how to go about it.

The rising interest rates had taken a toll on the bank. Deposits and the value of the bank’s bond holdings had fallen sharply. Moody’s Investors Service prepared for a downgrade. The bank had to reset its finances to avoid a funding crunch that would cut profits hard.

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