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

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.

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.

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

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

The FDIC plans to break up SVB and hold an auction for its traditional deposits unit and another for its private bank, after failing to find a buyer last week

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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.