An public sale for the remaining property of the failed Silicon Valley Financial institution is reportedly underway, with ultimate bids due this afternoon and a end result probably arriving late Sunday, based on Bloomberg.
Bloomberg says that the U.S. Federal Deposit Insurance coverage Corp. (FDIC), which stepped in and shut down SVB on Friday because it was experiencing an unprecedented run on funds by its purchasers, is hoping to conclude the public sale earlier than markets open on Monday morning.
A quick sale may assist the FDIC…
