3/13, 9:35 PM (Source: TeleTrader)
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FDIC to reportedly attempt to sell Silicon Valley Bank again

Federal Deposit Insurance Corporation informed United States Senate Republicans on Monday that the FDIC will try again to sell the collapsed Silicon Valley Bank, the Wall Street Journal reported on Monday, citing unnamed sources briefed on the conversation.

After invoking the "systemic risk exception" meant to protect more uninsured depositors, regulators gained more room to maneuver when it comes to a potential sale of the bank, according to the report.

The first attempt to sell the bank was made over the past weekend and was unsuccessful. It is not yet known when the second auction will take place.

Baha Breaking News (BBN) / MS