The Financial Times reported that FDIC regulators have asked banks interested in acquiring failed lenders SVB and Signature Bank to submit bids by March 17.
US regulators are willing to consider the prospect of the government backstopping losses at Silicon Valley Bank (SVB) and Signature Bank if it helps push through a sale, the Financial Times newspaper reported on Friday, citing people briefed on the matter. Sources told Reuters on Wednesday that regulators at the US Federal Deposit Insurance Corp (FDIC) have asked banks interested in acquiring failed lenders SVB and Signature Bank to submit bids by March 17. However, the FDIC has not given bidders any indication of the size of losses it would be willing to backstop or any sense of how the arrangement would be structured, the people told the Financial Times.
