简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:By David French (Reuters) – The U.S. Federal Deposit Insurance Corp (FDIC) is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender, according to people
By David French
(Reuters) – The U.S. Federal Deposit Insurance Corp (FDIC) is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender, according to people familiar with the matter.
One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday, according to one of the sources, who requested anonymity as these discussions are confidential.
The private bank, which is housed within SVBs retail operations, caters to high net-worth individuals.
The FDIC will invite bids for SVBs depositary bank, which is also part of its retail operations and includes all its consumer deposits, on Friday in a separate auction process, the sources said, cautioning that the plans could change.
The FDIC did not immediately respond to requests for comment. Bids for the whole of SVB were due on Sunday.
The FDIC, which insures deposits and manages receiverships, has previously informed banks mulling offers in the auctions for SVB and Signature Bank that it was considering retaining some of the assets that are underwater at the failed lenders.
Reuters reported earlier on Sunday that the efforts of some U.S. regional banks to raise capital and allay fears about their health are running up against concerns from potential buyers and investors about looming losses in their assets.
Bloomberg News reported on the FDICs plans to break up SVB earlier on Sunday.
(Reporting by Rishabh Jaiswal in Bengaluru and David French in New York; Additional reporting by Pete Schroeder in Washington; Editing by Nick Zieminski and Matthew Lewis)
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.