Richard Lawler
The FDIC is going to try and auction off Silicon Valley Bank again.
That didn’t quite work out on Sunday, but the Wall Street Journal reports officials told senators they have “additional flexibility” to make a deal now that the bank’s collapse has been deemed a threat to the financial system.
The move also gives regulators the ability to offer would-be buyers deal sweeteners such as loss-sharing agreements, according to former regulators.
While none of the largest U.S. banks bid on SVB during a failed auction on Sunday, at least one offer was made by another institution, but it was declined by the FDIC, officials told lawmakers on Monday.
