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SOURCE:(Reuters) - U.S. regulators said on Monday they would backstop a deal for regional lender First Citizens BancShares(FCNCA.O)to acquirefailed Silicon Valley Bank, triggering an estimated $20 billion hit to a government-run insurance fund. The deal comes after the Federal Deposit Insurance Corporation (FDIC) took over Silicon Valley Bank on March 10 after depositors rushed to […]
The post U.S. backstops Silicon Valley Bank sale to First Citizens appeared first on Barbados Today.
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