FDIC mulls auction of SVB and Signature banks on Friday

Regulators at the U.S. Federal Deposit Insurance Corporation have given until Friday, March 17 that financial institutions interested in buying bankrupt Silicon Valley Bank and Signature Bank to submit offers, Kim Ten reported, citing people familiar with the matter. The goal is to sell all of Silicon Valley Bank and Signature Bank. If it cannot be sold as a whole, it may also consider selling part of the shares of the two banks.

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