To start with Citizens to buy significant chunk of failed Silicon Valley Financial institution

Key Points

The offer will see To start with Citizens Bank invest in around $72 billion of Silicon Valley Financial institution assets at a discounted of $16.5 billion.
A further $90 billion in securities and other assets will keep on being “in receivership for disposition by the FDIC.”
The U.S. Federal Deposit Insurance coverage Corporation transferred all SVB deposits and belongings into a new “bridge lender” previously this thirty day period in an effort to guard depositors of the failed lender.

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