Crisis averted everyone. > Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
prrrrrrrrrr
And a second bank fails
Inflation back on the menu bois
how?
Didn't another bank just went under?
Government just gonna print more money to bail out all the banks. Brilliant!
It becomes debt for the treasury
brrrrrrr money printer back on. Infinite backing on every bank. Risk free.
Hmm wondering who “bid” enough to get the deal that lead to this statement
No losses borne by the taxpayers, total BS. If the government is backing SVB, it is taxpayer money.
Not via taxes - any losses to be recouped through a special FDIC insurance fee to all banks.
which will show up in customer fees via lower yield on savings and higher rates on loans eventually if cost is big enough
“Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.” What is the special assessment? So other banks will be paying to bail out SIVB’s customers?
As they should. If real limit is infinite and not 250k,banks should compensate FDIC for the extra risk.
Yes. That is exactly how it works, and has for nearly 100 years.
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Soft landing indeed