Published 1 year ago

FDIC to break up SVB, seeks separate sale of private unit

Summary by Ground News

The Federal Deposit Insurance Corporation will hold two separate auctions for its traditional deposits unit and its private bank. Bank and nonbank financial firms will be allowed to bid on the asset portfolios. The run on the bank was sparked by balance-sheet concerns after the lender sold a portfolio of treasuries and mortgage-backed securities.

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Reuters

FDIC to break up SVB, seeks separate sale of private unit

The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week.

1 year ago·United Kingdom

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CBC News

U.S. regulator breaks up Silicon Valley Bank, seeks separate sale of private unit

The U.S. Federal Deposit Insurance Corporation (FDIC) on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week.

1 year ago·Canada

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The Globe & Mail

FDIC to break up Silicon Valley Bank, seeks separate sale of private unit

The Federal Deposit Insurance Corporation will seek bids for Silicon Valley Private Bank until March 22 and for the bridge bank until March 24

1 year ago·Canada

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Business Standard

FDIC to break up Silicon Valley Bank, seeks separate sale of private unit

It will seek bids for Silicon Valley Private Bank until March 22 and for the bridge bank until March 24

1 year ago·India

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The Economic Times

FDIC to break up SVB, seeks separate sale of private unit

It will seek bids for Silicon Valley Private Bank until March 22 and for the bridge bank until March 24. The private bank, which is housed within SVB's retail operations, caters to high net-worth individuals.

1 year ago

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