Silicon Valley Bank deal soothes broader markets, but default stress haunts banks

Despite a buyer for SVB, default stress haunts banks

SVB’s purchase by First Citizens gives markets some respite but it’s only ‘a little bit of calm before the next storm’.

Silicon Valley Bank deal soothes broader markets, but default stress haunts banks

A buyer for large chunks of Silicon Valley Bank's (SVB) deposits and loans helped cast an uneasy calm on Monday (Mar 27) over fragile markets which have been roiled by worries of a credit crunch and systemic bank stress.

SVB deal soothes markets as default stress haunts banks

Markets have been soothed but banks remain haunted by default stress after First Citizens BancShares Inc's deal to buy Silicon Valley Bank's loans and deposits.

SVB deal soothes broader markets, but default stress haunts banks

By Anirban Sen and Renju Jose (Reuters) -A buyer for large chunks of Silicon Valley Bank's deposits and loans helped cast an uneasy calm over fragile markets on Monday, which have been roiled by worries of a credit crunch and systemic bank stress. First Citizens BancShares Inc bought all the loans and deposits of SVB and gave the Federal Deposit Insurance Corp equity appreciation rights in its stock worth as much as $500 million in return, the F…

WRAPUP 3-SVB deal soothes broader markets, but default stress haunts banks

WRAPUP 3-SVB deal soothes broader markets, but default stress haunts banks A buyer for large chunks of Silicon Valley Bank's deposits and loans helped cast an uneasy calm over fragile markets on Monday, which have been roiled by worries of a credit crunch and systemic bank stress. First Citizens BancShares Inc bought all the loans and deposits of SVB and gave the Federal Deposit Insurance Corp equity appreciation rights in its stock worth as mu…

A suitor for SVB soothes broader markets, but default stress stalks banks

First Citizens BancShares Inc was in advanced talks to acquire SVB from the Federal Deposit Insurance Corp/ North Carolina-based First Citizens has around $109 billion in assets and total deposits of $89.4 billion. The collapse of SVB little more than two weeks ago has reverberated around the world, sending U.S. depositors fleeing smaller banks for larger cousins while the hit to confidence forced Credit Suisse into the arms of rival UBS last we…