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I've heard from a few people today who have Cash Sweep Accounts at SVB: https://www.svb.com/liquidity-management/deposits-and-investments/svb-cash-sweep https:/

by iozero 4y ago

I've heard from a few people today who have Cash Sweep Accounts at SVB: https://www.svb.com/liquidity-management/deposits-and-investments/svb-cash-sweep https://www.svb.com/liquidity-management/deposits-and-invest... Some claim that these accounts are insured/protected up to $125m, but I can't find any info online to corroborate that.

dismalpedigree 4y ago
This surprises me. I wonder what the mechanism and incentives are for a bank to sweep deposits to another bank.