FDIC Partners with Piper Sandler to Restart SVB Sale

According to market sources, the US Federal Deposit Insurance Corporation has cooperated with Piper Sandler to restart the plan to sell Silicon Valley Bank. Additionally, the U.S. Treasury Department said it is closely monitoring the situation at Credit Suisse and is in touch with global counterparts. “Dr. Doom” Roubini said that the risk of Credit Suisse’s collapse is not ruled out. According to the Financial Times, the stock price of Credit Suisse (CS. The SNB has publicly backed it. Credit Suisse has also asked Swiss financial regulator Finma to back it, but neither agency has yet decided to publicly intervene, said two people familiar with the matter. Opimas analyst Octavio Marenzi said the SNB may have to Intervening and helping Credit Suisse seems inevitable. The SNB and the Swiss government must be fully aware that a failure of Credit Suisse, or even any losses to depositors, would destroy Switzerland’s reputation as a financial center.

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