FDIC Auction for Failed SVB Underway, Final Bids Due Sunday

The video discusses the auction process for SVB's assets in the US, highlighting the urgency to finalize bids by Sunday. Potential bidders include the Royal Group and banks like HSBC and Lloyds. The focus is on the implications for depositors, with only a small portion of deposits insured, and the need for regulators to act swiftly to prevent financial contagion.

What is the insurance limit for deposits mentioned in the text?

What actions do regulators need to take to prevent contagion in the financial system?