 "SVB, Silicon valley bank")
US regulators are moving toward a breakup solution for Silicon Valley Bank (SVB) after failing to line up a suitable buyer for the entire company, according to sources. The Federal Deposit Insurance (FDIC) is now seeking to sell the failed bank in at least two parts, said the sources.
Bids are due Friday for the so-called “bridge bank” that the FDIC set up to take receivership of SVB’s assets and liabilities. Separately, the regulator will take bids by Wednesday for SVB Private Bank, or the remnants of Boston Private, the wealth-oriented bank SVB acquired in 2021.
The FDIC had tried to sell
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