: FDIC to try to auction off Silicon Valley Bank again: report
Regulators are planning another auction for Silicon Valley Bank after they failed to find a buyer over the weekend, the Wall Street Journal reported Monday, citing unnamed sources. The Federal Deposit Insurance Corp. seized the bank Friday after a run on deposits. The Journal reports that at least one bank made an offer for Silicon Valley Bank, but that the FDIC rejected that offer. It is unclear when the second auction would be.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.