Large Bank Supervision Forum eBook

NONPUBLIC//FDIC INTERNAL ONLY

Response to Banking System Contagion • Initial marketing attempt for SVB hampered by poor quality of data available and constrained time for due diligence • Systemic risk evaluation centered on observed and prospective impact on other banks, and consequent financial stability and economic impacts

11 March

12 March

13 March

6:15pm: authorities announced Systemic Risk Exception for SVB and Signature

Bridge bank playbook activated for SVB, Signature, and First Republic

2:30pm: Bid deadline for SVB, bids received are far from acceptable

SVB Bridge and Signature Bridge opened and resumed normal business activities

Receivership processes for SVB proceeded, onsite and remote

FRB announces BTFP

SVB bids solicited, bidder engagement continued

Deposit outflows at other banks evaluated

Bridge bank formation initiated

26

FDIC appointed receiver of Signature