The parent company of failed Silicon Valley Bank cannot access about $2 billion in its deposits to the bank because the company's accounts were frozen by...
The parent company of failed Silicon Valley Bank cannot access about $2 billion in its deposits to the bank because the company’s accounts were frozen by federal regulators, according to a new report late Tuesday.
SVB... The parent company of failed Silicon Valley Bank cannot access about $2 billion in its deposits to the bank because the company’s accounts were frozen by federal regulators, according to a new report late Tuesday. SVB Financial’s lawyers also claimed the FDIC has stopped communicating with the company, and that regulators have directed the bridge bank to claw back some transfers SVB Financial made to other accounts.Other depositors in Silicon Valley Bank have been able to access their accounts, and federal regulators promised March 12 that “depositors will have access to all of their money.”
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SVB Financial Group accuses FDIC of cutting it off from cashSVB Financial Group said on Tuesday the U.S. Federal Deposit Insurance Corporation had taken 'improper actions' to cut it off from cash held at its former subsidiary Silicon Valley Bank, which was seized by regulators to stem a national bank run.
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FDIC to break up SVB, seeks separate sale of private unitThe Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank (SVB) and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week.
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SVB collapse: FDIC extends deadline for bidding on failed bankThe Federal Deposit Insurance Corporation announced Monday that the sale of Silicon Valley Bank would be broken into two parts and extended the deadline for bidding.
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SVB collapse: Influential lawmakers call to lift $250,000 cap on FDIC deposit insuranceProminent lawmakers are now calling for an increase in FDICgov's $250,000 insurance limit amid the continuing fallout from SVB’s collapse. SenWarren said raising the cap is a 'good move.' “Perhaps that’s not enough,” SenatorRounds said of the limit.
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SVB parent accuses FDIC of cutting it off from cashSVB Financial Group said Tuesday the Federal Deposit Insurance Corporation had taken “improper actions” to cut it off from cash held at its former subsidiary Silicon Valley Ba…
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SVB bailout may not come from taxpayers, but we’ll pay for it | Kyle SamminBending the rules to benefit powerful friends is sadly nothing new in politics, but this time it’s more blatant than usual.
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