First Citizens Bank Enters Deal With FDIC to Buy Silicon Valley Bank

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27 Mar 2023 0 shares 1 views

First Citizens Bank Enters Deal With FDIC to Buy Silicon Valley Bank

First Citizens Bank Enters Deal With FDIC to Buy Silicon Valley Bank

Upworthy

Published 27 Mar 2023

First Citizens Bank will take on the deposits and loans of the failed Silicon Valley Bank, the U.S. Federal Deposit Insurance Corporation (FDIC) said on Monday. The deal includes the purchase of $72 billion in SVB assets for a discount of $16.5 billion. The FDIC will keep another $90 billion in…

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