First Citizens Bank's Acquisition of Silicon Valley Bank Assets Sparks Optimism in Stock Futures.

First Citizens Bancshares acquired Silicon Valley Bank's deposits and loans at a discount of $16.5 billion, with the FDIC agreeing to share any future losses or gains on those loans. The FDIC also provided a line of credit to First Citizens for "contingent liquidity purposes." The total hit to the FDIC's deposit insurance fund will be $20 billion. The deal making by regulators is the latest example of how much government intervention has been required to get the current banking crisis under control.