The Latest Breaking News from Silicon Valley Bank

First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.

New York (AFP) - First Citizens Bank will acquire significant holdings of fallen lender Silicon Valley Bank, a US banking agency announced late Sunday, as regulators seek to contain an industry crisis.

Pressure on banking shares eased yesterday, after First Citizens’ deal to rescue Silicon Valley Bank. Shares in top lenders across the globe rose, with the FTSE up 0.9%.

The Federal Deposit Insurance Corp. says it has agreed on the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. The sale involves the sale of all deposits and loans of SVB to First-Citizens

This is a step toward stabilizing America's regional banking sector, after a month of tumult.

Most economists from the public and private sectors expect the ongoing US and European banking crisis to have a limited effect on the Thai banking sector thanks to the solid fundamentals of local banks and the strong supervision of the Bank of Thailand.

The recent collapse of Silicon Valley Bank (SVB) and other major banks has raised fears about a potential 2008-style banking crisis. While this seems unlikely, like so many events these days, SVB’s failure has also been caught in the sticky rhetorical web of the culture war.

Yes, there were some scary moments, it was poorly regulated and your bank failed to protect your money – but you got it back

Growing concerns about the safety of bank deposits have prompted investors to approach community and regional banks with caution