3 ms·

You've got that backwards. Reread the tweet you linked to: "Only 2.7% of SVB deposits are less than $250,000. Meaning, 97.3% aren't FDIC insured." Not a good

by MR4D 4y ago

You've got that backwards. Reread the tweet you linked to: "Only 2.7% of SVB deposits are less than $250,000. Meaning, 97.3% aren't FDIC insured." Not a good situation at all.

dllthomas 4y ago
Aren't fully FDIC insured, yes?
- lobochrome 4y ago
  Yes - if you have 5M$ in the bank, you'll have 250k$ of that insured. Not that comforting.
  - dllthomas 4y ago
    But if you put in $250k because you're responsibly splitting things across banks, and the interest you've made on it raised you to $252k, you're counted amongst the 97.3% and it's not a big deal. I'm sure some people are out meaningful amounts of money, but I'm not sure what a typical account looks like.
    - niij 4y ago
      It's 97.3% of deposits ($), not _depositors_
      - dllthomas 4y ago
        Hm, you may be right, though "deposits are less than" is a really weird way to phrase it in that case.