The move could facilitate the process of takeovers which became more challenging due to declining value of the assets, the report said, citing people familiar with the matter.
The amount covered at Signature could range from $20 billion to $50 billion, while for Silicon Valley Bank it could be between $60 billion and $120 billion, the report added. FDIC, Signature Bank, Silicon Valley Bank did not immediately respond to Reuters requests for comment.filed for a court-supervised reorganizationFinancial stocks have lost billions of dollars in value since the collapse of Silicon Valley Bank and Signature Bank last week, while credit stress has worsened for Wall Street's biggest banks.
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This story just gets worse and worse.......................