FDIC confirms that First Citizens (FCNCA) is to assume all deposits and loans of Silicon Valley Bridge Bank from the FDIC, transaction includes the purchase of about USD 72bln of SVB and National Association's assets
- As of March 10th, Silicon Valley Bridge Bank had approximately USD 167bln in total assets and about USD 119bln in total deposits.
- The transaction included the purchase of about USD 72bln of Silicon Valley Bridge Bank at a discount of USD 16.5bln.
- Approximately USD 90bln in securities and other assets will remain in the receivership for disposition by the FDIC.
- In addition, the FDIC received equity appreciation rights in First Citizens BancShares common stock with a potential value of up to USD 500mln.
via FDIC
27 Mar 2023 - 05:54- Fixed IncomeImportant- Source: Newswires
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