Regulators Hold Auction for Silicon Valley Bank
  • last year
Regulators auctioned off Silicon Valley Bank on Sunday as part of its effort to contain the fallout from its failure on Friday. The Federal Deposit Insurance Corp. seized Silicon Valley Bank on Friday after a run on deposits doomed its efforts to raise fresh capital. Regulators are trying to find buyers for the bank in an effort to repay depositors. Regulators are considering plans that ease worries about access to uninsured deposits and limit the impact that SVB’s closure could have on the overall economy.
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