Silicon Valley Bank (SVB) could be returning to the auction block with United States regulators taking a second attempt at finding a buyer for the now-collapsed bank.
According to a Mar. 13 report from the Wall Street Journal, the Federal Deposit Insurance Corporation (FDIC) told Senate Republicans that they now have additional flexibility to sell the bank after regulators declared the SVB collapse a threat to the financial system.
The regulators first attempted an auction of the fallen bank on Mar. 11 — only a day after its closure. Bids were only open for a few hours.
However, the weekend auction reportedly saw no bids from major U.S. banks. There was at least one offer made by another institution — but that was declined by the
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