Following a head-spinning several days in the saga of the Silicon Valley Bank collapse, here’s where things stand today, for customers in various affected countries:
- Having failed to find a buyer for the stricken bank, the U.S. Federal Deposit Insurance Corporation (FDIC) has created a “bridge bank” under the leadership of former Fannie Mae CEO Tim Mayopoulos. SVB’s U.S. depositors and borrowers are now customers of Silicon Valley Bank, N.A., and can access their funds and make payments.
