Silicon Valley Bank Rises From Dead With First Citizens Acquisition

  • 📰 Gizmodo
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

First Citizens bank will acquire $72 billion of SVB loans at a discount of $16.5 billion. Another $90 billion of assets will remain receivership of the FDIC.

Silicon Valley’s biggest bank earlier this month following a dramatic run on the banks. Prior to its failure, the second largest of any bank in U.history, SVB was the preferred bank for the tech sector and reportedly served ​nearly half of all venture capital-backed startups in the country. If left unchecked, regulators believed SVB’s sudden collapse could pose a systemic risk to the entire financial sector. U.

This article is part of a developing story. Our writers and editors will be updating this page as new information is released. Please check back again in a few minutes to see the latest updates. Meanwhile, if you want more news coverage, check out our

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 556. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines