Tag: FDIC

Silicon Valley Bank
Business

US agency to restart sale of defunct Silicon Valley Bank

The United States Federal Deposit Insurance Corp is preparing to restart the sale procedure of Silicon Valley Bank after the most recent auction was unsuccessful in attracting any buyers. Reuters reported that sources familiar with the matter have revealed that the regulator is exploring the possibility of dividing the bankrupt lender and is currently contemplating […]

Silicon Valley Bank
Business

Silicon Valley Bank failed over rising interest rate – Report 

A tech-heavy lender, Silicon Valley Bank, was closed down on March 10, 2023 and taken over by United States regulators owing to rising interest rates and others. SVB is popularly known to be a financial partner of the innovation economy. Before its closure on Friday, it supports individuals, investors and tech-innovative companies to achieve scaling […]