Silicon Valley Bank: Valley National or First Citizens, who will be SVB’s savior?

The sinking of America’s Silicon Valley Bank sparked the worldwide economic crisis. It is possible that his strike will be done soon. Two banks have bid for Silicon Valley Bank.

Two banks have bid for Silicon Valley Bank.

Image Credit source: File Photo: Reuters

Who will be the savior of America’s Silicon Valley Bank, which started the banking crisis for the whole world? America’s only two regional banks Valley National Bancorp (Valley National Bank Corp.) and First Citizens Bankshare (First Citizens BancShares) Has shown interest in buying this.

Media reports say that both Valley National Bancorp and First Citizens Bankshare have submitted separate bids for Silicon Valley Bank. People with knowledge of the matter said on condition of anonymity that the two banks had filed a complaint with the Federal Deposit Insurance Corporation before Friday’s deadline. (FDIC) submitted their bids to

There may be a big decision soon

The call for bids for Silicon Valley Bank has not been made public yet. It is expected that FDIC will soon start the further process by selecting the bid of one bank. The process of selling Silicon Valley Bank may begin this weekend.

However, no final decision has been taken yet. At the same time, FDIC can also adopt the option of keeping Silicon Valley Bank under its control, or can also choose any other option. After the collapse of Silicon Valley Bank, the FDIC took control of it.

(This news is being updated)