A buyer for large chunks of Silicon Valley Bank's (SVB) deposits and loans helped cast an uneasy calm on Monday (Mar 27) over fragile markets which have been roiled by worries of a credit crunch and systemic bank stress.
and gave the Federal Deposit Insurance Corporation equity appreciation rights in its stock worth as much as US$500 million in return, the FDIC said in statement.
North Carolina-based First Citizens said in a statement that it did not buy other assets or debts of SVB Financial Group, the former parent company of Silicon Valley Bank.
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