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the U.S. Treasury Department, the Fed, and the Federal Deposit Insurance Corporation (FDIC) announced
measures to fully guarantee deposits entrusted by customers of SVB and Signature Bank (bankrupt two
days after SVB bankruptcy) regardless of insurance guarantee limits and lend funds to financial institutions
that lack liquidity. And on March 13, President Joe Biden also came forward to resolve the situation early
by reaffirming his policy to guarantee full deposits.U.S. First Citizens Bank Acquires SVB For KRW 21 Trillion
On March 27, 2023The U.S. Federal Deposit Insurance Corporation (FDIC) said in a statement on March
27, 2023, that First Citizens, a small and medium-sized U.S. bank, has agreed to acquire all deposits and
loans from SVB for $16.5 billion (about 21.4 trillion won). In addition, the FDIC has previously seized assets
of bankrupt SVB and set up a Santa Clara Deposit Insurance National Bank corporation to seek the sale.
Since then, First Citizen and Valley National Bancorp have competed for the acquisition of SVB, and First
Citizen was eventually sold.

Na byung-seo
(English-Japanese dept. 2nd grade)
hand5000v@gmail.com