A FIRST CITIZENS Bank sign is seen in Durham, North Carolina. North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. ASSOCIATED PRESS / JONATHAN DREW
NEW YORK (AP) – First Citizens will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to fail and tested faith in the global banking sector. The Federal Deposit Insurance Corp. and other regulators had already taken extraordinary steps to…
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