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.
Destroyed SVB logo and U.S. flag is seen in this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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. The private bank, which is housed within SVB's retail operations, caters to high net-worth individuals.
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