Shares of Silvergate Capital Corp. climbed 18% in premarket trading on Monday, in step with a rise for most banking shares following news that failed Silicon...
Shares of Silvergate Capital Corp. SI climbed 18% in premarket trading on Monday, in step with a rise for most banking shares following news that failed Silicon Valley Bank has found a buyer. Silvergate Capital is in the process of winding down operations at its subsidiary, Silvergate Bank, a crypto-friendly institution that got caught up in losses and troubles for the cryptocurrency market in recent months. That news has has wiped 90% of the value off Silvergate Capital.
has entered a deal to assume all loans and... Shares of Silvergate Capital Corp. SI climbed 18% in premarket trading on Monday, in step with a rise for most banking shares following news that failed Silicon Valley Bank has found a buyer. Silvergate Capital is in the process of winding down operations at its subsidiary, Silvergate Bank, a crypto-friendly institution that got caught up in losses and troubles for the cryptocurrency market in recent months.
has entered a deal to assume all loans and deposits of Silicon Valley Bridge Bank, which was created by the FDIC following the closure of Silicon Valley Bank.
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Asia wary, US stock futures up on SVB reportsInvestors hope that authorities are working to ring-fence stress in the global banking system.
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Indian shares open higher as SVB acquisition hopes aid sentimentIndian shares opened higher on Monday after reports of advanced talks for the acquisition of collapsed Silicon Valley Bank brought relief to markets, although fears of contagion in the global banking system lingered.
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A suitor for SVB soothes broader markets, but default stress stalks banksA potential buyer for Silicon Valley Bank helped cast an uneasy calm over fragile markets on Monday, which have been roiled by worries of a credit crunch and wider systemic banking stress.
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First Citizens Bank to buy SVB's deposits, loans from FDICFirst Citizens Bank & Trust Co will buy all of Silicon Valley Bank's deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement.
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