FDIC auction for SVB assets said to be underway

An auction for the remaining assets of the failed Silicon Valley Bank is reportedly underway, with final bids due this afternoon and a result potentially arriving late Sunday, according to Bloomberg. Bloomberg says that the U.S. Federal Deposit Insurance Corp. (FDIC), which stepped in and shut down SVB on Friday¬†as it was experiencing an unprecedented … Continue reading FDIC auction for SVB assets said to be underway