Silicon Valley Bank Finds a Buyer

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 27 March 2023

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for March 27. First Citizens Bank is buying big pieces of Silicon Valley Bank, more than two weeks after SVB’s collapse sent tremors through the global banking system. WSJ editor Matthew Thomas explains the significance of the purchase and its potential risks for First Citizens. And Israel is at a standstill as its largest trade union calls a general strike over Prime Minister Benjamin Netanyahu’s contentious judicial overhaul. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Three, two, one.
0:03.0	What will the world look like 10 or 20 years from now?
0:07.3	The Wall Street Journal's future of everything podcast is here to give you a peek, and we
0:11.3	can't wait to show you what's coming.
0:13.7	Subscribe now.
0:16.7	Silicon Valley Bank finds a buyer, plus mass demonstrations in Israel against Benjamin
0:25.8	Netanyahu's judicial overhaul.
0:28.2	The country is most likely to be put on pause today with a vast part of the population planning
0:33.1	to join in protests.
0:35.2	And why regional banks are rolling out a welcome mat for crypto clients.
0:40.5	It's Monday, March 27th, I'm Luke Vargas with the Wall Street Journal, and here's the
0:44.9	AM edition of What's News, the top headlines and business stories moving your world today.
0:57.5	And we begin today with an overnight development in the banking crisis.
1:02.0	One of America's largest regional lenders, first citizens bank is buying big pieces of Silicon
1:08.7	Valley Bank.
1:10.3	That comes more than two weeks after SVB's collapse sent tremors through the global banking
1:15.6	system, and joining me now with the latest on this story is Wall Street Journal editor
1:19.9	Matthew Thomas.
1:21.7	Matthew, tell us what exactly is first citizens buying here?
1:25.7	Focus through the basics of this.
1:27.2	OK, so first citizens is not buying the entire bank.
1:30.8	I guess that's the important point to make.
	...

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