Summary: The Federal Deposit Insurance Corp (FDIC) said in a statement Monday customers will be able to access their Silicon Valley Bank deposits at a bridge bank. Banking regulators approved the transfer on Sunday. The FDIC appointed former Fannie Mae CEO Tim Mayopoulos as CEO of the bridge bank. Author: Katie Lin

The Federal Deposit Insurance Corp (FDIC) said in a statement Monday customers will be able to access their Silicon Valley Bank deposits at a bridge bank.

Banking regulators approved the transfer on Sunday.

The FDIC appointed former Fannie Mae CEO Tim Mayopoulos as CEO of the bridge bank.

Author: Katie Lin