SVB Fallout
FDIC Moves Toward Breakup Plan for Silicon Valley Bank
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US regulators are moving toward a breakup solution for Silicon Valley Bank after failing to line up a suitable buyer for the entire company, according to people familiar with the matter.
The Federal Deposit Insurance Corp. is now seeking to sell the failed bank in at least two parts, said the people, who asked to not be identified because the matter isn’t public. A representative for the FDIC didn’t immediately respond to requests for comment.