FDIC is delaying the deadline for Silicon Valley Bank bids and now plans to split it up
1 min readUnable to find a “suitable” buyer for Silicon Valley Bank, regulators now reportedly plan to split it up and sell it in two parts and are giving potential buyers more time to submit bids.
The Federal Deposit Insurance Corp. plans to split off SVB Private, the institution’s wealth management unit, Bloomberg reported March 19. The FDIC intends to sell SVB Private separately from Silicon Valley Bridge Bank N.A., the organization the FDIC created to hold the failed bank’s assets and liabilities, according…
