Regulators dealing with the Silicon Valley Bank's collapse are reportedly planning to give depositors access to 30% to 50% of their uninsured deposits Monday.
The initial payout is aimed at easing distressed customers as regulators race to comb through SVB's assets and uncover a long-term solution, such as a potential sale. Should a long-term solution fail to manifest, regulators are planning to disburse additional money to depositors over time, according to multiple reports.
— Charles Gasparino March 12, 2023 Under Federal Deposit Insurance Corporation policy, bank deposits are insured up to $250,000. However, the vast majority of SVB's deposits were worth more than $250,000, raising concerns about whether investors will be able to retrieve their money. Some policymakers have contemplated raising the FDIC deposit insurance threshold in the future to avert a similar predicament down the line. In addition to deposits, SVB also had $62.5 billion in credit commitments at the end of last year, according to the report.
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