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Silicon Valley Bank looking for a buyer after dragged-out FDIC sale failed

It's left a mess that government officials, banking agencies and potential bidders are still trying to work out as they also navigate a deal for Signature Bank and try to bolster First Republic Bank

SVB, Silicon valley bank
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Bloomberg
The effort to wind down Silicon Valley Bank was marred by an unmotivated seller, infighting between regulators and, ultimately, a failed auction.
 
It’s left a mess that government officials, banking agencies and potential bidders are still trying to work out as they also navigate a deal for Signature Bank and try to bolster First Republic Bank.

When a US regulator seizes a bank, it will ideally shut the doors on a Friday and secure one buyer for everything by Sunday night, just in time to calm markets before they reopen. Almost a week after SVB was put into receivership, that

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First Published: Mar 17 2023 | 9:01 AM IST

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