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)