All SVB assets, deposits have been transferred to FDIC-operated 'Bridge Bank'

  • FDIC says all depositors of former SVB will be protected

They add that checks will continue to clear and that loan payments by customers should be made accordingly as per usual, with 'Bridge Bank' set to open and resume normal banking hours. Former Fannie Mae CEO, Tim Mayopoulos, has been named as CEO.

They're still waiting on that buyer surely. Tick tock, tick tock.

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