Newstrail.com

Regulators urged to find Silicon Valley Bank buyer as industry frets about fallout

Published by
Reuters

By Lananh Nguyen and Pete Schroeder NEW YORK (Reuters) – Some financial industry executives and investors were growing increasingly concerned on Saturday that the collapse of Silicon Valley Bank could have a domino effect on other U.S. regional banks if regulators did not find a buyer over the weekend to protect uninsured deposits. Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, roiling markets and leaving billions of dollars belonging to companies and investors stranded. The Federal Deposit Insurance Corporation (FDIC), whi…

Read More