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And of course, the FDIC is not guaranteeing deposits of over $250k. What's actually happening is that the FDIC will take care of the sub-$250k deposits by itsel

And of course, the FDIC is not guaranteeing deposits of over $250k. What's actually happening is that the FDIC will take care of the sub-$250k deposits by itself and sell the remaining assets of Silicon Valley Bank (which they have taken over) to sort out the remaining uninsured deposits.

notch898a 4y ago
>And of course, the FDIC is not guaranteeing deposits of over $250k FDIC says they are. After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. https://home.treasury.gov/news/press-releases/jy1337 https://home.treasury.gov/news/press-releases/jy1337