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After failing to find a buyer for Silicon Valley Bank over the weekend, FDIC officials told Senate Republicans on Monday that they had the power to sell the company given that regulators had declared its failure a threat to the financial system, according to people familiar with the matter. Greater flexibility, whereby regulators have more flexibility to offer favorable terms, such as loss-sharing agreements, to potential buyers. FDIC officials told lawmakers on Monday that while no major U.S. bank bid for Silicon Valley Bank in Sunday’s auction, at least one institution made an offer that was rejected by the FDIC, and the timing of the second auction now Table is not clear. (Financial Association)
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