The U.S. Federal Deposit Insurance Corporation (FDIC) has transferred all deposits of Silicon Valley Bank (SVB), both insured and uninsured, to a newly created “bridge bank” with a newly named CEO. A massive run on deposits was triggered over SVB’s bond portfolio and its failure to raise capital, causing money to empty out, leading to the bank’s…
FDIC Transfers All Deposits From Failed Silicon Valley Bank to Newly Created ‘Bridge Bank,’ Names CEO
March 13, 2023
admin
Bridge BankBusiness & MarketsCompanieseconomic policieseconomyFDICInvestmentMarketsPolicies & ImpactsSilicon Valley BankUS
0 Comment
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`