JPMorgan wont be bidding on SVB, bids due today, FBN says

Fox Business Network’s Charles Gasparino tweeted: "Bids for SVB must be delivered today to the @FDICgov but one big bank wont be bidding: @jpmorgan, sources tell @FoxBusiness. Unclear if decision must be made today or over weekend on slae. Big banks show significant reluctance to bid unless FDIC provides backup for liabilities including litigation. ‘I’d shocked if there were bids from banks unless FDIC covers liabilities,’ said one banker involved in the process. ‘Who wants to take a chance w this administration & Elizabeth Warren.’ Without a takeover bank is sold in pieces" Reference Link