Tag: Feds
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Feds Discover a Purchaser for Silicon Valley Financial institution
Two weeks after Silicon Valley Financial institution’s collapse despatched shockwaves by means of world monetary markets, a purchaser has stepped as much as take the failed lender’s deposits and loans off the federal authorities’s palms. First Residents agreed to purchase about $72 billion of SVB’s property—a reduction of $16.5 billion—from the Federal Deposit Insurance coverage…