The U.S. Federal Deposit Insurance Corp (FDIC) is planning to relaunch the sale process for Silicon Valley Bank after failing to attract buyers in its latest auction, with the regulator seeking a potential break-up of the failed lender, Reuters reported. One of the options under consideration by the regulator is a sale process for the private bank of SVB for which bids are due on Wednesday. The private bank, which is housed within SVB's retail operations, caters to high net-worth individuals. The FDIC will invite bids for SVB's depositary bank, which is also part of its retail operations and includes all its consumer deposits, on Friday in a separate auction process. The FDIC, which insures deposits and manages receiverships, has previously informed banks mulling offers in the auctions for SVB and Signature Bank that it was considering retaining some of the assets that are underwater at the failed lenders.
