March 20, 2023

Silicon Valley Bank will be taken over, the future of the bank will be decided today. First Citizens is evaluating an offer for silicon valley bank news in hindi

Customers of America’s Silicon Valley Bank are about to get relief. An American financial institution has stepped in to save it, looking to prepare a better offer for the bank.

An American financial institution has come forward to save it.

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The banking sector crisis in America started with the collapse of Silicon Valley Bank. The bank is currently regulated by the Federal Deposit Insurance Corporation (FDIC), which may now make a major decision on its future fate, a takeover on Sunday. To save Silicon Valley Bank, which funds many startups around the world, including India, a major American financial institution is trying to make a grand offer.

Citing sources with knowledge of the matter, Bloomberg reported that America’s First Citizens Bancshares Inc. Silicon Valley is evaluating the bank for an offer It is one of the possible banks that Silicon Valley Bank could buy in the auction.

Also Read: Credit Suisse-UBS deal: UBS set to take over Credit Suisse, seeks $6 billion guarantee

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Tomorrow’s fate will be written today

The FDIC will decide on the proposal to buy Silicon Valley Bank on Sunday Along with this, a decision has to be made whether Silicon Valley Bank will be sold in its entirety or in pieces. All of this will depend on the rates received by the FDIC. Besides First Citizen, there is another institute that is serious about buying Silicon Valley Bank.

However, no final decision has been made regarding the sale of Silicon Valley Bank. At the same time, First Citizens can present its offer even after going before the bid. First Citizens previously made a very low bid for Silicon Valley Bank, which was rejected.

See more: From US to UK, Singapore to India, when a bank goes under, your money is so safe

There was no immediate statement from First Citizens and the FDIC on the matter. In this regard, both can give their opinion during the work.

People’s money is safe for now

In the US, Silicon Valley Bank collapsed earlier this month. Then the FDIC took control of it. The FDIC insures people on deposits up to $250,000 in American banks.

UBS set to buy Credit Suisse

Earlier, the day started with the possibility of solving another bank crisis. UBS is set to buy Switzerland’s Credit Suisse. Only for this he has set the condition of guaranteeing 6 billion dollars before the government.

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