The Federal Deposit Insurance Corp is planning another auction for failed Silicon Valley Bank (SVB). After unsuccessful first-round bidding attempts over the weekend, it failed to find a buyer, according to the Wall Street Journal, which spoke to people familiar with the matter.subjectthis
The regulator stated that The SVB’s failure could pose a threat to the financial system, giving the FDIC more flexibility to sell, for example, choosing to protect depositors above the usual $250,000 insurance limit and offering better terms, according to the Journal.
The US authorities have issued emergency measures to boost confidence in the banking system. After the failure of Silicon Valley Bank, which could spark a wide-ranging financial crisis
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