FDIC explores break-up plan for Silicon Valley Bank after failed sale attempts.
TL;DR
The FDIC is planning to relaunch the sale process for Silicon Valley Bank (SVB) after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender. The FDIC will invite bids for SVB's depositary bank, which includes all its consumer deposits, on Friday in a separate auction process. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday.
- FDIC to relaunch sale of SVB, moves toward break-up plan Reuters
- FDIC Reportedly Asking Banks to Submit Bids for SVB, Signature by Friday CoinDesk
- First Citizens emerges as possible suitor for Silicon Valley Bank Fox Business
- FDIC Breakup Plan News for Silicon Valley Bank (SVB - SIVB) Bloomberg
- FDIC considers Silicon Valley Bank break-up after failing to find a buyer Business Standard
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