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How exactly are they guaranteeing all deposits? They claim to not be bailing them out and they haven't found a seller. I'm smelling bullshit.
> No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. i'm out of touch with how much of this works, can someone explain how this is paid without burden to the taxpayer?
> Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
How exactly are they guaranteeing all deposits? They claim to not be bailing them out and they haven't found a seller. I'm smelling bullshit.
> No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. i'm out of touch with how much of this works, can someone explain how this is paid without burden to the taxpayer?
> Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
suggests other banks will effectively pick up the bill?
How exactly are they guaranteeing all deposits? They claim to not be bailing them out and they haven't found a seller. I'm smelling bullshit.
Problem, of course, is that they were some massive assets and adding them to a book without unbalancing it is going to be difficult to do.
> No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. i'm out of touch with how much of this works, can someone explain how this is paid without burden to the taxpayer?
Mentioned later in the announcement. > Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
Also, will the FDIC just eventually feed SVB's MBSs back into its insurance fund once they mature?
Sort of burying the lede - also states that all SVB depositors will be made whole along with Signature depositors.
I could have sworn that was already posted here, my bad. Can mods change the thread title?
“After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of S…