the fdic has announced to cover all the deposits of svb, so the. why is it absolutely essential for them to sell svb?
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While the FDIC (Federal Deposit Insurance Corporation) has announced to cover all the deposits of SVB (Silicon Valley Bank), selling the bank might still be necessary for a few reasons:
In conclusion, while the FDIC has announced to cover all the deposits of SVB, selling the bank is still essential to maintain financial stability, restore depositor confidence, minimize losses, facilitate resolution, and ensure the continuity of banking services.