Tue, Mar 28, 2023
US stock market today: The three main indices of the US stock market staged mixed moves on Tuesday, mirroring moves across their Asian and European peers, as a deal between First Citizen and the failed Silicon Valley Bank (SVB) aided the sentiment in banking shares but caution persisted among investors about higher-for-longer benchmark interest rates. Banking stocks have been rocked over the past few weeks thanks to the sudden collapse of SVB and fresh problems at Credit Suisse followed by its takeover.
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Signs of relief from the US market? What are the remaining risks in the US market? How much confidence increased from the purchase of Silicon Valley Bank? What is positive about US banks? Know from Anil Singhvi.
Mon, Mar 27, 2023
According to the news quoting Bloomberg, Silicon Valley Bank has assets of $16,700 Cr. First Citizens Bank bought SVB.
The deal includes assets worth around $72 billion from Silicon Valley Bridge Bank, National Association on a discount of $16.5 billion. A total of $90 billion in securities and other assets will still be under receivership for the FDIC to sell.
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