3 ms·
The press release answers some of that. Insured money is there on Monday. Uninsured money will get their first payout no later than next week. After that its
by kasey_junk 4y ago
The press release answers some of that. Insured money is there on Monday. Uninsured money will get their first payout no later than next week.
After that its a question but typically depositors will know the answer very quickly because their claims come first.
- delfinom 4y agoNot quite, the uninsured money will be partially paid out depending on how the books look (since the FDIC has to liquidate the bank), however a chunk of the money can be in limbo for now via receivership certificate that tracks the amount you have claim to. From the PR >The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds This is a 100% standard FDIC statement and not unique to SVB btw. https://www.investopedia.com/terms/a/advance-dividend.asp#:~:text=What%20Is%20an%20Advance%20Dividend,the%20receiver%20of%20its%20assets https://www.investopedia.com/terms/a/advance-dividend.asp#:~....