The ~60% is the easy to value marketable assets SVB owned. The FDIC will do the accounting over the weekend and pay out whatever they calculate is covered on M

The ~60% is the easy to value marketable assets SVB owned. The FDIC will do the accounting over the weekend and pay out whatever they calculate is covered on Monday. The loans SVB made are less liquid and are harder to market. The FDIC will try to find a buyer and may agree to backstop some losses to get a deal done. This won't take more than a couple weeks and might get done this weekend too.