Breaking: Regulators plan another try at auctioning Silicon Valley Bank, after they were unable to find a buyer over the weekend
Auction comes after failed attempt to find suitor on Sunday
The FDIC seized SVB after a run on deposits doomed its efforts to raise fresh capital and shore up its finances.Updated March 13, 2023 4:17 pm ET WASHINGTON—Regulators are planning to take another crack at auctioning failed Silicon Valley Bank, according to people familiar with the matter, after they were unable to find a buyer for the firm over the weekend.
Officials from the Federal Deposit Insurance Corp. told Senate Republicans on Monday that they had additional flexibility to sell the firm now that regulators had declared its failure a threat to the financial system, according to people familiar with the briefing and notes on the discussion reviewed by The Wall Street Journal.
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