Silicon Valley Bank, a top 20 US bank by total assets, will be taken over by the FDIC. A bank run caused deposits to flow out leaving SIVB with losses on its bond portfolio and ultimately a capital shortfall. I discuss why I think this issue is unique to SIVB among top 20 banks in the US. The Fed will likely be forced to put more aggressive rate hikes on hold, although a key CPI report next Tuesday could alter the picture