Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation as receiver.
At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.
As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.
The main office and all branches of Silicon Valley Bank will reopen on Monday, March 13, 2023.
As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits.
The FDIC as receiver will retain all the assets from Silicon Valley Bank for later disposition.
Michael 'Big Short' Burry also weighed in on Silicon Valley Bank last night.
https://www.zerohedge.com/markets/silicon-valley-bank-crashes-65-halted-pending-news
No comments:
Post a Comment