SVB Financial Faces Year-End Deadline for $2 Billion FDIC Fight

SVB Financial Group, the bankrupt former parent of Silicon Valley Bank, is seeking to exit court protection by Jan. 1 to protect billions of dollars worth of tax benefits that would go to creditors. The timeline could be challenged by an ongoing fight with the Federal Deposit Insurance Corp. over $2 billion of deposits.

SVB Financial has just a few months to resolve the dispute with federal regulators over the recovery of the deposits, which became trapped when Silicon Valley Bank entered FDIC receivership in March, company attorney James Bromley said during a court hearing in Manhattan. So far, ...