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Published 1 year ago

Silicon Valley Bank acquired, offering an end to banking woes

Summary by Ground News
First Citizens BancShares scooped up the assets of failed peer Silicon Valley Bank (SVB) on Monday, March 27, in a vote of confidence for the battered banking sector. SVB collapse this month was the trigger for the worst banking shock since the 2008 global financial crisis. Top US banking regulators plan to tell Congress that they will comprehensively review their policies in a bid to prevent future collapses.

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