1 Breaking News found.
  • US backstops Silicon Valley Bank sale to First Citizens
    by enderworld
    Mar 28, 2023
    Economics

    First Citizens said it would not pay cash upfront for the deal. Instead, it said it granted equity appreciation rights in its stock to the FDIC that could be worth up to $500 million. U.S. regulators said on Monday they would backstop a deal for regional lender First Citizens BancShares FCNCA.O to a...

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