- FDIC taps Piper Sandler to relaunch auction of failed lender Silicon Valley Bank.
- SVB will be sold in its entirety but also explore piecemeal deals.
- Major banks balked at carrying out a risky deal in a short amount of time.
- US taxpayers will not bear the cost of salvaging SVB.
Exclusive: U.S. regulator taps Piper Sandler in new bid to sell Silicon Valley Bank -sources
Regulators at the U.S. Federal Deposit Insurance Corp (FDIC) have tapped investment bank Piper Sandler Companies to relaunch the auction of failed lender Silicon Valley Bank, people familiar with the matter said on Wednesday.
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