First Citizens Bank to buy SVB's deposits, loans from FDIC
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FILE PHOTO: FILE PHOTO: A security guard stands outside of the entrance of the Silicon Valley Bank headquarters in Santa Clara, California, U.S., March 13, 2023. REUTERS/Brittany Hosea-Small/File Photo/File Photo
(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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