FDIC: Transfer all deposits of Silicon Valley Bank (SVB) to a bridge bank

ChainCatcher News, the Federal Deposit Insurance Corporation (FDIC) announced that all deposits of Silicon Valley Bank (SVB) will be transferred to a bridge bank. Checks for Silicon Valley Bank (SVB) customers will be cleared, and loans will be paid.

It is reported that the bridge bank has resumed normal operating hours, and the FDIC has appointed Tim Mayopoulos as the CEO of Silicon Valley Bank. (Jin Shi)