The Federal Deposit Insurance Corp. has moved the bid deadline to Friday for the failed Silicon Valley Bank’s wealth-management bank, according to people familiar with the matter.
The FDIC had said this week that bids were due for Silicon Valley Private Bank at 8 p.m. Wednesday. It’s not clear why the regulator moved the deadline. Bids are also still due Friday for the so-called bridge bank that the FDIC set up this month to seize the assets and liabilities of Silicon Valley Bank, said the people, who asked to not be identified because the matter isn’t public.
