Former FDIC chair Sheila Bair says finding a buyer for Silicon Valley Bank is the “best outcome” after it was shut down by regulators last week over concerns about its solvency.
Sen. Bob Menendez, D-N.J., a member of the Senate Banking Committee, said on"Meet the Press" that he hasn't received a briefing yet on the SVB shutdown, and was “not ready to offer” the bank a bailout.
Members of the California congressional delegation were briefed Saturday night by the FDIC on the collapse of SVB, multiple offices in the House and Senate told NBC News Sunday. Sen. Mark Warner, D-Va., a member of the Senate Banking Committee, also said Sunday he believes that “best outcome will be an acquisition.”
“I know I’ve been in conversations with the regulators, the administration, the Fed. The best outcome will be can they find a buyer for this SVB bank today before the markets open in Asia later in the day,” Warner said in an interview on“That would be the best, making sure that depositors — remember that shareholders in the bank are going to lose their money, let’s be clear about that — but the depositors can be taken care of. And the best outcome will be an acquisition of SVB,” he added.
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