JPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
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J.P. Morgan, PNC among suitors for SVB holding companyTalks exclude the stricken commercial bank, sources told Axios.
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Exclusive: PNC, RBC interest in SVB cools as regulators seek rescue bidsInterest from two early suitors for Silicon Valley Bank - PNC Financial Group Inc and Royal Bank of Canada - had cooled on Sunday, as U.S. regulators invited bids for the failed lender, according to sources familiar with the matter.
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Exclusive: PNC, RBC interest in SVB cools as regulators seek bidsThe FDIC has been trying to find a buyer after taking control of the collapsed Bank on Friday so that corporate clients that had their money frozen can meet their payroll obligations. But a deal on a tight timeline has proven to be hard.
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SVB collapse to test Fed's faith in a strong, low-risk financial systemEarlier this month the U.S. Federal Reserve in a report to Congress gave what has become a standard reassurance: Banks were strong and the overall financial system in solid shape.
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Ripple CEO assures ‘strong financial position’ despite SVB collapseBrad Garlinghouse, CEO of Ripple, the issuer of XRP, said on Twitter that the company’s day-to-day operations were unaffected by the collapse of Silicon Valley Bank.
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SVB collapse puts Fed's faith in a strong, low-risk financial system to the testEarlier this month the U.S. Federal Reserve in a report to Congress gave what has become a standard reassurance: Banks were strong and the overall financial system in solid shape.
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