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The FDIC will be working over the weekend to audit things and by Monday have enough funds released so customers aren't totally stuck.
by pkaye 4y ago
The FDIC will be working over the weekend to audit things and by Monday have enough funds released so customers aren't totally stuck.
- dragonwriter 4y agoThe FDIC will be working over the weekend to sort out account ownership by ownership category to establish which balances are insured and which are not, and taking the administrative steps to stand up a new Depository Insurance National Bank to take over administering SVBs business. Access to all insured funds should be available Monday, and depositors with uninsured funds should get a mix of some funds and “receivership certificates” for the uninsured balances. So, yeah, not “totally stuck”, but anyone with balances over $250K may be…largely stuck.