 "SVB, Silicon valley bank")
Regulators at the US Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank to submit bids by March 17, people familiar with the matter said on Wednesday.
The new auctions show how the FDIC is making a concerted effort to return the lenders to the private sector after regulators took over Silicon Valley Bank (SVB) last Friday and Signature Bank on Sunday, during a weekend of turmoil that has reverberated through the global financial system.
This will be the FDIC’s second attempt at selling SVB after a failed effort on
Disclaimer: No Business Standard Journalist was involved in creation of this content
