Events listed in Banks and Trust Companies Law (BTCL)
Updated Statement on Silicon Valley Bank
ID 22609
In light of the recent failure of SVB and the subsequent appointment of the FDIC as the Receiver, CIMA has maintained communication with the FDIC and other concerned parties regarding the receivership process and its impact on SVB’s Cayman Islands branch. As of 31 March 2023, the CIMA has received information indicating that **the FDIC will soon be issuing notices to SVB’s Cayman Islands ...