Large Bank Supervision Forum eBook

NONPUBLIC//FDIC INTERNAL ONLY

Operation and Sale of Bridge Banks

• Bridge bank CEOs and the FDIC focused on promoting stability and preserving value • Educate customers and counterparties that the bridge banks could function like normal OCC-chartered banks • Bid deadlines were adjusted to balance the need for additional time

16 March

19 March

13-15 March

27 March

12, 13 March

March 12: Bridge bank formation initiated (FDIC already appointed receiver of SVB and Signature) March 13: SVB Bridge and Signature Bridge open and resume operations

Bridge bank playbooks activated for SVB and Signature Ongoing retention planning, counterparty communications, ensuring operational continuity

12:30am: FDIC announces sale of SVBB to First Citizens

7:30pm: FDIC announces sale of SBB to Flagstar Bank (subsidiary of New York Community Bancorp)

Consortium of 11 banks injects $30 billion deposit to FRC

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