TechFlow news, according to Reuters, sources said that regulators at the U.S. Federal Deposit Insurance Corporation (FDIC) have asked financial institutions interested in acquiring the failed Silicon Valley Bank and Signature Bank to submit bids by Friday, March 17. The goal is to sell both banks in their entirety. If a full sale proves unfeasible, selling partial stakes in the two banks may also be considered.
Two sources said only bidders holding existing banking licenses would be allowed to review the banks' financial records prior to submitting bids. Buyers of Signature Bank must agree to abandon all of the bank's cryptocurrency-related operations, according to the report. The FDIC declined to comment on behalf of itself and Silicon Valley Bank, while Signature Bank and Piper Sandler—the firm handling the auction—did not immediately respond to requests for comment.Original link
