The market is calming down after the purchase of Silicon Valley Bank assets

The global financial market felt relieved as there were no major banking crises over the weekend. However, the US Federal Deposit Insurance Corporation (FDIC) suffered a loss of $20 billion related to the regulation of the situation in Silicon Valley Bank. Jack Ma, the owner of Alibaba, has returned to China after a year-long absence. On Monday, March 27, it is important to know that First Citizens has acquired the majority of Silicon Valley's loan portfolio and securities, and has taken over all of its deposits from the FDIC. As part of the loss-and-gain-sharing scheme for the asset recovery process, the FDIC will receive up to $500 million in First Citizens equity instruments. Deutsche Bank led a recovery rally yesterday in Europe, although its weakness continues to make investors wary. There was also a change in the head of the Saudi National Bank, whose ill-conceived comments hastened Credit Suisse's slow-motion downfall.