FDIC auction for SVB assets said to be underway

An auction for the remaining assets of the failed Silicon Valley Bank is reportedly underway, with final bids due this afternoon and a result potentially arriving late Sunday, according to Bloomberg.
Bloomberg says that the U.S. Federal Deposit Insurance Corp. (FDIC), which stepped in and shut down SVB on Friday as it was experiencing an unprecedented run on funds by its clients, is hoping to conclude the auction before markets open on Monday morning.
A fast sale could help the FDIC make at least some of the uninsured deposits of SVB customers available to them by Monday. Already, the U.S. age

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