Racing

Regulators Face Urgent Task to Stem Spread From Silicon Valley Bank

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wsj.com

Bank regulators raced over the weekend to avoid a broader crisis from Friday’s stunningly hasty collapse of Silicon Valley Bank by trying to sell the lender’s assets to shield the banking system and economy from wider fallout.U.S.

regulators on Sunday said they are auctioning the failed bank, according to people familiar with the matter. Treasury officials confirmed the auction to congressional lawmakers and staff on a call Sunday afternoon, the people said.  

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