# U.S. mid-tier lenders shares rise in Frankfurt after SVB deal
Author:  Pal Sinha,Barnali
Author URL: https://economystandard.com/author/pal-sinha-barnali/
Published: 2023-03-27
Category: Headlines
Category URL: https://economystandard.com/category/headlines/
Meta Title: Frankfurt-listed U.S. lender shares surge on SVB deal; Pa...
Meta Description: Shares of mid-tier U.S. lenders rose in Frankfurt after SVB sale injects market calm. Pacific West Bancorp up 16%, First Republic up 7%. FDIC approves First ...
URL: https://economystandard.com/u-s-mid-tier-lenders-shares-rise-in-frankfurt-after-svb-deal/

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LONDON (Reuters) – The Frankfurt-listed shares of several mid-tier U.S. lenders rose sharply on Monday, after a buyer emerged for large chunks of embattled Silicon Valley Bank’s deposits and loans, which helped inject some much-needed calm into fragile markets.

Shares in Pacific West Bancorp surged 16% in thin volumes in Frankfurt, while those in First Republic rose 7%.

First Citizens BancShares Shares bought all the loans and deposits of SVB and gave the Federal Deposit Insurance Corp equity appreciation rights in its stock worth as much as $500 million in return, the FDIC said in statement.

Frankfurt-listed shares of First Citizens were indicated 7.4% higher.

Shares in Keycorp, Western Alliance and Zions were indicated between 3.6% and 8% higher, although no trading volume had gone through by 0700 GMT, according to Refinitiv data.

(Reporting by Joice Alves; Editing by Amanda Cooper)


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