4 ms·
But isn't this the point of FDIC? Even if SVB becomes insolvent, your account value is insured by the federal government? I'm not very familiar with all of this
by CGamesPlay 4y ago
But isn't this the point of FDIC? Even if SVB becomes insolvent, your account value is insured by the federal government? I'm not very familiar with all of this, so please help me understand what I'm missing.
- dkrich 4y agoUp to $250k
- willis936 4y agoOr 3 business days of burn at my company.
- owenmarshall 4y agoAdding on to this as explanation for GP: Funds over the FDIC limit aren’t just surrendered; instead, you become a creditor to the failed institution. The FDIC works to recover those funds - good loans are sold to other institutions, payments due are collected, furniture and real estate is sold, the usual. So a percentage of your money may be paid to you over several years time. Good luck managing free cash flow in the meantime.