Federal regulators are exploring selling Silicon Valley Bank to another financial institution after the tech-focused bank was taken over on Friday.
on Friday after massive withdrawals a day earlier created a bank run. The Federal Deposit Insurance Corporation took control of the bank on Friday, and started an auction process on Saturday night, according to the report.
The collapse of SVB, which was a key player in the technology start-up world, is the largest U.S. bank failure since Washington Mutual in 2008. That bank was thenregulators are exploring this weekend. Many investors on Wall Street and Silicon Valley expect an announcement at some point on Sunday to detail the next steps in the SVB crisis.
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