Silicon Valley Bank's failure will cost $20 billion – that's almost a sixth of the pool of funds that insures US depositors
The deal includes the purchase of about $72 billion of Silicon Valley Bridge Bank assets at a discount of $16.5 billion. About $90 billion in securities and assets will remain with the FDIC for sale.
Silicon Valley Bank was closed on March 10 by regulators after a bank run and capital crisis, in what marked the second-largest bank failure in US history. Silicon Valley Bank's downfall has sparked chaos in the global banking system. Top market commentators like have urged regulators to provide a blanket coverage for all US deposits in the event of a bank collapse.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
First Citizens Bank to buy SVB's deposits, loans from FDICFirst Citizens Bank & Trust Co will buy all of Silicon Valley Bank's deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement.
Lire la suite »
First Citizens Bank to buy SVB's deposits, loans from FDIC By Reuters⚠️BREAKING: *FIRST CITIZENS BANK TO BUY SILICON VALLEY BANK FOR UP TO $500 MILLION DOLLARS $FCNCA $SIVB
Lire la suite »
Elon Musk puts $20 billion value on Twitter, The Information reportsTwitter Inc CEO Elon Musk has offered the social-media company's employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff.
Lire la suite »
Elon Musk values Twitter '$20 billion' after $44 billion acquisition in 2022Elon Musk, the CEO of Twitter, has reportedly issued stock grants to the company's staff at a valuation of close to $20 billion, according to multiple media reports on Saturday.
Lire la suite »