First Citizens to buy most SVB loans; FDIC sees $20 billion hit to insurance fund

First Citizens to buy most SVB loans; FDIC sees $20 billion hit to insurance fund

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Investing.com -- First Citizens Bank is to buy most of the loan book of the collapsed Silicon Valley Bank, the Federal Deposit Insurance Corporation said on Monday, under a deal that will see a substantial hit to the U.S. Deposit Insurance Fund. The FDIC said that Raleigh, North Carolina-based…

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