US FDIC seeks bids for Silicon Valley Bank’s German assets – FT

The U.S. Federal Deposit Insurance Corporation is selling failed Silicon Valley Bank’s German assets

According to the Financial Times, the FDIC has initiated the sale of Silicon Valley Bank’s German assets, which includes a portfolio of loans, leases, and other assets worth $460 million. First Financial Network, the loans specialist, is handling the sale on behalf of the FDIC and has disclosed the details of the sale in marketing materials sent to large investors.

Potential buyers for Silicon Valley Bank’s German branch include HSBC

Reports from Finance Forward and Capital indicate that the German branch of Silicon Valley Bank is seeking a buyer. Media reports suggest that HSBC, which acquired the UK arm of Silicon Valley Bank, is a potential buyer.

(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)

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