5/6/2023 0 Comments Www moneycontrol com portfolio![]() ![]() It will release final figures once sales of the loan books of the banks and their securities portfolios are complete. The FDIC estimates the sale of Silicon Valley Bank and Signature Bank will cost the deposit fund $20 billion and $2.5 billion, respectively. banks that are members of the FDIC’s deposit insurance scheme.īitcoin At Highest Level In 9 Months, Crosses $28,000 Amid Banking Crisis Why Are Cryptos Rising? The fund, used to guarantee deposits at failed lenders, is replenished by a levy on all U.S. It is unclear how much the FDIC’s deposit fund stands to lose on the sale of the portfolios. The sources spoke on condition of anonymity to discuss confidential information about the sale process. Silicon Valley Bank’s and Signature Bank’s securities portfolios carry a face value of around $90 billion and $26 billion, respectively, according to regulatory filings and statements by government officials. If First Citizens Bancshares Inc, the new owner of Silicon Valley Bank, or New York Community Bancorp Inc, which acquired Signature Bank, had assumed the assets, they would have had to realize losses given that interest rates are now much higher than the yield of these assets. government agency-backed securities, that the two regional banks amassed while interest rates were close to zero. The portfolios are comprised of low-yielding assets, such as Treasuries and U.S. The Federal Deposit Insurance Corporation (FDIC) has retained advisers to sell the securities portfolios that the new owners of failed Silicon Valley Bank and Signature Bank rejected, according to people familiar with the matter. ![]()
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