United States bank, First Citizens, on Monday, said it has agreed to purchase all loans and deposits from Silicon Valley Bank, whose collapse this month sparked global fears about the sector.
SVB, a key lender to the tech industry since the 1980s, became the biggest US bank to fail since 2008 when regulators seized it after a sudden run on deposits.
Regulators created Silicon Valley Bridge Bank from SVB after the collapse, and that entity will be taken over by…
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