All of Silicon Valley Bridge Bank’s deposits and loans have been purchased by which bank?

Answer: First Citizens

Silicon Valley Bridge Bank, National Association, failed on March 10, 2023, after depositors rushed to withdraw money amid fears about the bank’s health. The FDIC created Silicon Valley Bridge Bank, National Association, following the closure of Silicon Valley Bank by the California Department of Financial Protection and Innovation. All of the deposits, both insured and uninsured, and substantially all assets and all Qualified Financial Contracts of Silicon Valley Bank were transferred to the bridge bank. First Citizens Bank & Trust Company, a subsidiary of First Citizens BancShares, agreed to buy Silicon Valley Bank’s deposits and loans. The FDIC announced that the 17 former branches of Silicon Valley Bridge Bank, National Association, will open as First-Citizens Bank & Trust Company on Monday, March 27, 2023. The purchase price was $72 billion, discounted by $16.5 billion. The deal includes the purchase of about $72 billion assets of Silicon Valley Bank at a discount of $16.5 billion. About $90 billion in securities and other assets of the California-based lenders will remain “in receivership of disposition” by the FDIC.

Amazon Daily Quiz Answers For 29 April- Win ₹1250 Amazon Pay Balance

Question 1 of 5:

All of Silicon Valley Bridge Bank’s deposits and loans have been purchased by which bank?

The answer is- First Citizen

Question 2 of 5:

In 2023, who became the fastest Indian to take 50 wickets in IPL history?

The answer is- Khaleel Ahmed

Question 3 of 5:

For the first time in India, a metro rail test was successfully operated underwater in which city?

The answer is- Kolkata

Question 4 of 5:

This animal was the most prestigious hunting target in which era of Europe?

The answer is- Medieval

Question 5 of 5:

This President wanted to build a wall on which border?

The answer is- Mexico

Himanshu Kumar

He is college student. And likes to write about money making apps, fantasy apps and other tech stuff.

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