Glasp on 'First Citizens Acquires Much of Failed Silicon Valley Bank - WSJ' | Glasp

First Citizens Acquires Much of Failed Silicon Valley Bank - WSJ thumbnail

First Citizens Acquires Much of Failed Silicon Valley Bank - WSJ

The Federal Deposit Insurance Corp. said First Citizens is acquiring all of Silicon Valley Bank’s deposits, The purchase includes $119 billion in deposits and about $72 billion of SVB’s loans at a discount of $16.5 billion. Some $90 billion of SVB’s securities will remain in receivership.

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The Federal Deposit Insurance Corp. said First Citizens is acquiring all of Silicon Valley Bank’s deposits,
The purchase includes $119 billion in deposits and about $72 billion of SVB’s loans at a discount of $16.5 billion. Some $90 billion of SVB’s securities will remain in receivership.

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