The sale involves the sale of all deposits and loans of SVB to First-Citizens, the FDIC said in a statement late Sunday. Read More
The deal will see First Citizens Bank purchase approximately $72 billion of SVB assets at a discount of $16.5 billion.
Recent banking turmoil could bring the U.S. closer to a recession, Minneapolis Fed President Neel Kashkari said in an interview with CBS’ “Face The Nation.”
Credit Suisse and Silicon Valley Bank may have collapsed but a financial crash today would be very different to the 2008 crisis.
Germany is poised to pass a new nationality law that will make it easier for foreigners to gain citizenship.
Morgan Stanley strategists recommend 10 defensive stocks to own right now while selling European bank stocks “into any material rally”.
Pieces of the computer code used to run Twitter were leaked online, according to court filings.