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Chasing Our Tails
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Chasing Our Tails

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The Credit Strategist
Mar 27, 2023
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Chasing Our Tails
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First Citizens Bank stepped up and bought Silicon Valley Bank’s deposits and loans over the weekend, taking advantage of another bank’s mismanagement and the government’s need to support the banking system. The deal involves the purchase of ~$72 million of assets at a $16.5 billion discount while another $90 billion of securities remain in receivership …

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