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Regulators Rush to Sell SVB Assets to Make Uninsured Accounts Partly Available on Monday: Bloomberg

Regulators are scurrying to sell assets of the failed Silicon Valley Bank this weekend and hope to make between 30% to 50% of uninsured deposits available for withdrawal Monday, Bloomberg reported.

More cash could become available if the FDIC is able to sell assets by Sunday night, before banking resumes on Monday morning. Silicon Valley Bank had approximately $209 billion in total assets and $175.4 billion in total deposits as of Dec. 31, 2022. Deposits of up to $250,000 are insured by the FDIC.

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