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Congress grilled regulators on their actions before and after the failures.

The bank’s failure sent a shock across the financial system. On Tuesday, senators will grill officials from federal regulators about why it happened.

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FDIC: First-Citizens Bank to purchase assets of Silicon Valley Bank

The FDIC announced late Sunday that North Carolina-based First-Citizens Bank & Trust Company will purchase all deposits and loans of Silicon Valley Bank.

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Credit Suisse taken over amid fears of financial meltdown

Announcing the decision Swiss president Alain Berset warned that an “uncontrollable collapse of Credit Suisse would lead to incalculable consequences for the country and the international financial system.”

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FDIC to break up SVB, seeks separate sale of private unit

FDIC to break up SVB, seeks separate sale of private unit
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FDIC To Break Up SVB, Seeks Separate Sale Of Private Unit

The parent company of the lender SVB Financial Group had on Friday filed for a reorganization under Chapter 11 bankruptcy protection.

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