(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.
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FDIC racing to start returning some uninsured SVB deposits as soon as Monday, Bloomberg News says
Published 03/11/2023, 07:43 PM
Updated 03/11/2023, 07:45 PM
FDIC racing to start returning some uninsured SVB deposits as soon as Monday, Bloomberg News says
Latest comments
Yup. Drain the FDIC reserves so when other institutions fail, there won’t be enough to go around
FDIC reserves?? Hahahahahahaaha!
Pay off uninsured. See, the rich get paid off quick, even when their deposits are uninsured. Poor sucker with $200,000 deposited there won't get their money for months, even though insured.
it was bad management, but rate hikes did not help
You suggesting management was not smart enough to see the higher interest rates were not coming?
That's what they've told the media in order to stave off a panic.
Fixed good news
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