They’re lending them to the fed at Libor plus 50bps and the fed is giving them par.
https://www.fdic.gov/about/strategic-plans/strategic/receivership.html
this says Under the FDIC act that they must move the assets quickly. That's why I ask, if they have to move them quickly who's buying them?
Discussion
According to this it's the 1 year overnight swap rate + 10bps
https://www.federalreserve.gov/newsevents/pressreleases/files/monetary20230312a1.pdf
And that's so banks can handle any runs, and use their assets as collateral.
The other link I sent you is based on the FDIC receivership. Which is what is going on with SVB.