The Federal Deposit Insurance Corporation (FDIC) is reportedly considering breaking up Silicon Valley Bank into at least two entities as it auctions off the failed bank's assets.
Allianz chief economic adviser Mohamed El-Erian says Silicon Valley Bank’s ‘perfect storm’ collapse resulted from mismanagement, ‘lapses’ in supervision by the Fed, and its handling of interest rate hikes.
Now, the FDIC is considering an option for moving forward and relaunching the auction after breaking up SVB into at least two components, according to a report by Bloomberg that cited sources familiar with the matter.
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