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.
