MX Gonzo
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In case you heard something different...
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Sec Yellen signed off on measures for the FDIC to fully protect everyone who had money in Silicon Valley Bank & Signature Bank. They will have access to their deposits beginning today. No losses associated w/this resolution will be borne by the taxpayer.
02:04 PM - Mar 13, 2023
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MX Gonzo
A
In response to MX Gonzo.
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Shareholders & certain unsecured debtholders will not be protected. Senior management has been removed.
02:10 PM - Mar 13, 2023
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MX Gonzo
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In response to MX Gonzo.
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Any losses to the Deposit Ins Fund to support uninsured depositors will be covered by a special assessments on banks, as required by law.
END

https://www.federalreserve...
02:11 PM - Mar 13, 2023
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