The Federal Deposit Insurance Corporation added a few new employees to its payroll late Friday, taking on workers from shuttered Silicon Valley Bank, at least for a few weeks, as it serves as receiver of the collapsed lending institution.
The newly-formed entity, the Deposit Insurance National Bank of Santa Clara, or DINBSC, sent a letter to employees offering 45 days of employment, according to a copy of the message seen by Bloomberg. After the 45 days, the employees will be let go, the letter states.
