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first-citizens-bank-acquires-silicon-valley-bank,-costing-fdic-deposit-insurance-fund-an-estimated-$20b

First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B

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According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley […]

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report:-silicon-valley-bank-under-fdic-auction-as-calls-for-bailout-grow

Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow

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The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal promptly after California regulators closed the bank and placed it into FDIC receivership on

Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow Read More »