Private equity firms and other investors looking to buy up failed banks will face fewer restrictions after a US banking regulator reversed an Obama-era policy.
The 2009 policy rescinded Thursday by the Federal Deposit Insurance Corp. had set tougher capital and continuity-of-ownership requirements for private equity investors looking to purchase failed lenders.
Silicon Valley Bank’s collapse in 2023 and the drawn-out process to find a buyer highlighted the need for more potential investors, the FDIC said in a notice set for publication in the Federal Register.
A First Citizens BancShares Inc. unit ended up acquiring SVB’s bridge bank after private ...
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