March 12 (Reuters) - A Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank's (SIVB.O) unit in the country, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world. "By taking temporary control of the Canadian branch of Silicon Valley Bank, we are acting to protect the rights and interests of the branch's creditors," Peter Routledge, the superintendent of financial institutions, said in a statement. OFSI said the U.S.-headquartered bank has operated in Canada since 2019 as a foreign bank branch based in Toronto. Its business in Canada is primarily lending to corporate clients, and the branch does not hold any commercial or individual deposits in Canada. The Canadian unit had C$435 million ($315.33 million) in secured loans at the end of last year, more than double the amount at the end of 2021, according to regulatory filings.

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