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. ET 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.
A representative for the FDIC didn’t immediately respond to requests for comment.
Silicon Valley Private Bank is the successor to Boston Private, the wealth-oriented bank SVB acquired in 2021. Silicon Valley Bank collapsed into FDIC receivership this month, after a run on the bank by its tech startup clients.
U.S. regulators moved toward a breakup solution for Silicon Valley Bank after failing to line up a suitable buyer for the entire company over the weekend, Bloomberg News reported on Sunday.
Executives from LPL Financial, Cresset Partners hired for key roles.
Geopolitical tension has been managed well by the markets.
December cut is still a possiblity.
Canada, China among nations to react to president-elect's comments.
For several years, Leech allegedly favored some clients in trade allocations, at the cost of others, amounting to $600 million, according to the Department of Justice.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
