March 15 (Reuters) - Canada's financial regulator said
on Wednesday it had taken permanent control of the assets of
Silicon Valley Bank's Canadian branch and was winding up the
institution.
The Office of the Superintendent of Financial Institutions
said in a statement that it was restructuring the branch in the
wake of a decision by the U.S. Federal Deposit Insurance
Corporation to transferred all deposits of Silicon Valley Bank
to a newly created bridge bank.
(Reporting by David Ljunggren and Ismail Shakil)
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