First Citizens Bank buying SVB's deposits and loans, FDIC says
Silicon Valley Bank failed earlier this month after a sudden run on deposits, prompting regulators to seize control and sparking global fears about the sector.
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Silicon Valley Bank failed earlier this month after a sudden run on deposits, prompting regulators to seize control and sparking global fears about the sector.
Now, as the world woke up Monday morning with concerns about "contagion," referring for the first time in years not to a literal virus but to the possibility of more bank failures, experts and consumers alike are trying to figure out what's next.
President Biden is expected to address the banking crisis on Monday following the collapse of Silicon Valley Bank on Friday morning.
