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

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

FDIC racing to start returning some uninsured SVB deposits as soon as Monday, Bloomberg News says 150 150 admin

(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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