FDIC Working on Finding Buyer for SVB, California’s Khanna Says

Democratic Representative Ro Khanna said the Federal Deposit Insurance Corp is working to find a buyer for Silicon Valley Bank and urged the US government to step in and guarantee all of the bank’s deposits.

Asked on CBS’s “Face the Nation” about the option of a private-sector bank buying SVB’s assets, Khanna said: “That would be the ideal situation and our delegation that talked to the FDIC last night made that clear. That’s what we urged them to work on, they said they’re working on it.”