By Aaron Nicodemus2023-03-27T16:44:00
The deposits and loans of the failed Silicon Valley Bank (SVB) have been purchased by First Citizens Bank & Trust, although about $90 billion in securities and other assets will remain in receivership.
The Federal Deposit Insurance Corporation (FDIC) announced the sale Sunday of some of SVB’s assets to North Carolina-based First Citizens Bank, following the agency’s takeover of SVB on March 10. The purchase represents $110 billion of the assets of Silicon Valley Bridge Bank, including $56 billion in deposits and $72 billion in loans, First Citizens said Monday in a press release.
SVB’s loan portfolio was sold at a discount of $16.5 billion, the FDIC said. The FDIC and First Citizens entered into a share-loss agreement in which the agency and bank will share in potential losses and recoveries in SVB’s loan portfolio.
2023-03-27T18:59:00Z By Adrianne Appel
In sudden bank buyouts, the workload on compliance departments skyrockets as new customers are nearly instantly assumed by the purchasing bank. Experts share their take on managing the resulting risks.
2023-03-23T00:21:00Z By Adrianne Appel
The stunning, rapid collapse of Silicon Valley Bank, fueled in its final days by droves of panicked depositors seeking funds, likely added to the chaos within the bank and ratcheted up the risk of fraud, according to legal experts.
2023-03-21T19:05:00Z By Aaron Nicodemus
Treasury Secretary Janet Yellen said federal regulators are willing to extend the same financial assistance—perhaps even extended deposit insurance—to mid-sized banks struggling to handle the fallout from the failures of Silicon Valley Bank and Signature Bank.
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The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
2025-05-29T16:07:00Z By Aaron Nicodemus
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
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