The deal includes the purchase of the SVB bank assets worth $72 billion, at a discount of $16.5 billion

The acquisition will ensure that assets and securities worth $90 billion will be under the receivership of FDIC

It is said that the failure to the Deposit Insurance Fund is about $20 billion as per sources, awaiting confirmation

Silicon Valley Bank abruptly became the biggest US lender to fail in more than a decade earlier this month

The bank took a huge loss on sales of its securities amid rising interest rates, unnerving investors and depositors

Following the turmoil, on March 9 alone, investors and depositors tried to withdraw about $42 billion

Regulators had been racing to lock down a deal in a bid to cover the uninsured deposits of its customers