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

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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