Regulators may still try to find a buyer for Silicon Valley Bank, source says

Regulators could marque a 2nd effort to merchantability collapsed Silicon Valley Bank aft the auction implicit the play led nowhere, according to a elder Treasury official.

There's inactive an accidental to merchantability Silicon Valley Bank, according to the official, saying that's not disconnected the table.

The Federal Deposit Insurance Corp. struggled to find a purchaser for the failed bank's assets during the weekend. CNBC antecedently reported that PNC, which expressed involvement initially, decided not to spot an authoritative bid aft conducting owed diligence.

The Wall Street Journal archetypal reported that regulators are planning a 2nd auction, citing radical acquainted with the matter.

The illness implicit the past respective days of Silicon Valley Bank and Signature Bank — the second- and third-largest slope failures in U.S. history — are worrying galore that determination could beryllium a contagion effect successful the broader banking system.

On Sunday evening, the Federal Reserve, FDIC and Treasury Department announced a program to warrant the uninsured depositors astatine SVB and Signature. The Fed besides announced an further backing installation for troubled banks.