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FDIC takes control of Silicon Valley Bank

FDIC takes control of Silicon Valley Bank

Silicon Valley Bank was closed today by the California Dept of Financial Protection and Innovation, which appointed the FDIC as receiver.

The FDIC will pay uninsired depositors an advance dividend within the next week and a receivership certificate for the remainder of uninsured funds. The FDIC said the bank had $175.4B in deposits in the bank.

Shares of SIVB never opened toda... Read More

Posted: Mar 10 2023, 16:47
Author Name: forexlive
Views: 110884

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