US FDIC seeking bids for Silicon Valley Bank's $460m German assets

US FDIC seeking bids for Silicon Valley Bank's $460m German assets

FILE PHOTO: Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration

The U.S. Federal Deposit Insurance Corporation has begun a sale of failed Silicon Valley Bank’s German assets, seeking bids for the lender’s $460 million portfolio of loans, leases and other assets, the Financial Times reported on Thursday.