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Business Matters: Will the sale of Silicon Valley Bank relieve pressure on the system?

Will the sale of Silicon Valley Bank relieve pressure on the system?

28/03/2023 GMT

BBC World Service - Business Matters, Will the sale of Silicon Valley Bank relieve pressure on the system?

First Citizens Bank hoovered up troubled Silicon Valley Banks assets and customers.

First Citizens Bank - a regional US bank has agreed to buy assets and loans of collapsed US lender Silicon Valley Bank bringing some stability to the markets.

After a few weeks of bad news about bank failures, financial markets are slowly coming back to normal. Central banks around the world have stressed that the banking system is safe and lenders are well capitalised. Analysts, however, admit that risks to financial stability have increased.

(Picture: Glass front of a bank building. Picture Credit: Getty Images)

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