The U.S. Federal Deposit Insurance Corporation has transferred all deposits of Silicon Valley Bank to a newly created bridge bank and all depositors will have access to their money beginning Monday morning, the financial regulator said.
A sign for Silicon Valley Bank headquarters is seen in Santa Clara, California, U.S. March 10, 2023. REUTERS/Nathan Frandino/File Photo/File PhotoMarch 13 - The U.S. Federal Deposit Insurance Corporation has transferred all deposits of Silicon Valley Bank
In a statement, the FDIC said all customers of SVB would automatically become customers of the bridge bank, which will hold "normal banking hours and activities, including online banking."
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