FDIC racing to start returning some uninsured SVB deposits as soon as Monday, Bloomberg News says

March 11, 2023
FDIC racing to start returning some uninsured SVB deposits as soon as Monday, Bloomberg News says
FILE PHOTO: FILE PHOTO: The Federal Deposit Insurance Corp (FDIC) logo is seen at the FDIC headquarters in Washington

(Reuters) – The Federal Deposit Insurance Corporation (FDIC), which is overseeing the emergency breakup of SVB Financial Group, is racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, Bloomberg News reported on Saturday, citing people with knowledge of the situation.

(Reporting by Akanksha Khushi in Bengaluru; Editing by Paul Simao)

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