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

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Published: Mar 12, 2023, 00:51 GMT+00:00

(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.

(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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