Banks up after report on FDIC

NEW YORK (Reuters) - Shares of large-cap banks rose on Wednesday after Bloomberg News reported that the FDIC may take control of a U.S. "bad bank."

Citigroup (C.N) gained 20 percent to $4.25 while Bank of America (BAC.N) added 14.5 percent to $7.44 and JPMorgan Chase (JPM.N) was up 8.1 percent to $27.08.

(Reporting by Ryan Vlastelica; Editing by Theodore d''Afflisio)