Regulators may still try to find a buyer for Silicon Valley Bank, source says
Publishing timestamp: 2023-03-13 16:57:38
Summary
Regulators may attempt a second auction to sell Silicon Valley Bank after the first one failed to find a buyer. The collapse of Silicon Valley Bank and Signature Bank, the second- and third-largest bank failures in US history, has raised concerns about a potential contagion effect in the broader banking system. The Federal Reserve, FDIC, and Treasury Department have announced plans to guarantee uninsured depositors at the two failed banks and provide additional funding for troubled banks.
Sentiment: NEGATIVE
Keywords: markets, signature bank, stock markets, svb financial group, breaking news: investing, breaking news: business, breaking news: markets, business news, wall street, investment strategy,