Silicon Valley Bank crisis updates: Regulators arrive at lender's California offices, staff told to work from home

The woes of Silicon Valley Bank intensified on Friday as US regulators arrived at the California offices of the start-up focused lender, said a report. 

Watchdogs from the Federal Deposit Insurance Corp. and Federal Reserve are looking into the impact of significant withdrawals, reported Bloomberg. 

SVB Financial Group is exploring options, including a sale, after its efforts to raise capital through a stock sale failed, reported Reuters as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks.

Shares of SVB were halted on Friday after tumbling as much as 66% in premarket trading.

SVB Financial Group told its employees in a memo on Friday that they should work from home until further notice.

"SVB is undergoing a series of conversations that have not been concluded yet to determine next steps for the company," the bank said in a memo seen by Reuters.

Essential and branch employees are excluded from the request to work from home, the memo added.

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