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Markets — Banking — Financial Crisis — FDIC — Deposits — Investment Banking

Jefferies CEO Says Merger Best for SVB, a 2008 Repeat Unlikely

Jefferies CEO Rich Handler said a merger would be the best solution for SVB Financial Group's Silicon Valley Bank. FDIC has started an auction process with final bids due on Sunday afternoon. Deposits are insured up to $250,000 per depositor, any impairment of deposits should be fairly modest.

1 min read
  • Jefferies CEO Rich Handler said a merger would be the best solution for SVB Financial Group's Silicon Valley Bank.
  • 2008 financial crisis was over-leveraged and filled with mis-marked complex illiquid assets, not the case today.
  • FDIC has started an auction process with final bids due on Sunday afternoon.
  • Deposits are insured up to $250,000 per depositor, any impairment of deposits should be fairly modest.
Jefferies CEO Says Merger Best for SVB, a 2008 Repeat Unlikely
The best solution for resolving the failure of SVB Financial Group’s Silicon Valley Bank “would be a merger occurring today,” said Jefferies Financial Group Inc. Chief Executive Officer Rich Handler, who said he doesn’t see a repeat of the 2008 global financial crisis emerging from the past week’s events.
BloombergDaniel Taub

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