FDIC Returned $40 Billion in US Treasury Funds, Reversing Withdrawal After SVB Takeover

FDIC Returned $40 Billion in US Treasury Funds, Reversing Withdrawal After SVB Takeover
The Federal Deposit Insurance Corp (FDIC) logo at the FDIC headquarters in Washington on Feb. 23, 2011. Jason Reed/Reuters
Reuters
Updated:

WASHINGTON—The Federal Deposit Insurance Corp. (FDIC) deposited $40 billion back into the U.S. Treasury General Account on Tuesday, reversing a $40 billion withdrawal on Friday as the regulator took control of the failed Silicon Valley Bank, Treasury financial data released on Wednesday showed.

A Treasury spokesperson referred questions about the fund transfers to the FDIC, which declined comment.