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The Department of Finance watching events in Silicon Valley Bank.

An Roinn Airgeadais ag faire imeachtaí i Silicon Valley Bank.

The Department of Finance says it is monitoring what is happening in relation to the failure of Silicon Valley Bank and is in contact with the appropriate authorities.

Deir an Roinn Airgeadais go bhfuil siad ag coinneáil súil ar a bhfuil ag tarlú maidir le teip Silicon Valley Bank agus go bhfuil siad i dteagmháil leis na h- údaráis chuí.

"Although the Bank's failure has had little direct impact on the Irish financial system, a number of Irish companies have received loans from Silicon Valley Bank since 2012," the Department said in a statement.

"Cé gur beag de thionchar díreach atá ag teip an Bhainc ar chóras airgeadais na hÉireann, tá iasachtaí faighte ag roinnt comhlachtaí Éireannacha ó Silicon Valley Bank ó 2012," a dúirt an Roinn i ráiteas.

"The department will keep an eye on the work of the Federal Deposit Insurance Corporation of the United States - the state institution that awards the success of bank deposits - as they try to sell SVB, and the impact that the sale will have on companies that were involved .

"Coimeádfaidh an roinn súil ar obair Chomhlacht Árachais Taiscí Feidearálacha na Stát Aontaithe - an foras stáit a bhronnann rathaíocht ar thaiscí bainc - is iad ag iarraidh SVB a dhíol, agus an tionchar a bheidh a bheidh ag a dhíol ar chomhlachtaí a raibh baint acu leis.

American regulators closed the bank on Friday after a massive withdrawal of deposits after the value of shares collapsed.

Dhún rialtóirí Meiriceánacha an banc Dé hAoine nuair a rinneadh astarraingt ollmhór ar na taiscí tar éis do luach na scaranna titim as a chéile.

In 2019, SVB announced that they intended to increase their lending to Irish technology start-ups to $500m as part of a collaboration with the Irish Strategic Investment Fund (ISIF).

Sa bhliain 2019, d'fhógair SVB go raibh sé i gceist acu a gcuid iasachtaí do ghnólachtai nuabhunaithe teicneolaíochta Éireannacha a mhéadú go $500m mar chuid de chomhoibriú le Ciste Infheistíochta Straitéisach na hÉireann (ISIF).

That Fund said it has approximately $100m invested in five investment funds managed by SVB Capital, a subsidiary of Silicon Valley Bank Group.

Dúirt an Ciste sin go bhfuil tuairim is $100m infheistithe i gcúig chiste infheistíochta atá faoi bhainistíocht SVB Capital, fochuideachta le Silicon Valley Bank Group.