What do you mean by "toxic assets"? My understanding is that the assets were long-term treasuries issued in 2021. They'd declined in value, as expected, because

What do you mean by "toxic assets"? My understanding is that the assets were long-term treasuries issued in 2021. They'd declined in value, as expected, because of interest rate increases that occurred afterwards. SVB is now unable to sell those bonds without losing money, and so would have to wait until maturity to get their money back.