First Citizens Bank to buy SVB’s deposits, loans from FDIC

FILE PHOTO: Silicon Valley Bank branch in Santa Clara, CA

(Reuters) – First 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.

(Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D’Souza)

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