First Citizens Bank to Purchase Assets of Failed Silicon Valley Bank

Foto: cortesía Democracy Now!

In financial news, First Citizens Bank announced it will purchase a large portion of the assets of the failed Silicon Valley Bank.

Seventeen former branches of SVB will now operate as First Citizens banks.

The FDIC took over SVB earlier this month after a run on the bank caused it to collapse in the second-largest bank failure in U.S. history.


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