First Citizens Bank enters into whole bank purchase of Silicon Valley Bridge Bank
Raleigh First-Citizens Bank & Trust Company, a subsidiary of Raleigh-headquartered First Citizens BancShares, Inc., announced on Monday that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans and certain other assets, and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank.
Embattled SVB Financial Group seeks protection from bankruptcy: Report
SVB Financial Group on Friday said it has applied for court-monitored restructuring under Chapter 11 bankruptcy protection to find potential buyers for its assets, Reuters reported.
HSBC Holdings acquires Silicon Valley Bank UK Limited for INR 99
New York: HSBC Holdings plc announces that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1 (INR 99).
After Silicon Valley Bank another US-based bank collapses
Washington: Signature Bank, New York, NY, was closed on Sunday by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver.
There will be no bail out for investors of the now-collapsed Silicon Valley Bank (SVB) that recently appeared in Forbes magazine's annual ranking of the best banks in America, for the fifth year in a row, according to media reports.
Name mix-up: Fall of Silicon Valley Bank leaves customers of Mumbai-based bank in panic mode
Mumbai: The collapse of Silicon Valley Bank (SVB), considered one of the biggest seen in the US since 2008, has impacted a Mumbai-based cooperative bank.