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>The FDIC will be returning most (or all) of the deposits in SVB 85% of accounts weren't FDIC insured https://time.com/6262009/silicon-valley-bank-deposit-ins
by astura 4y ago
>The FDIC will be returning most (or all) of the deposits in SVB
85% of accounts weren't FDIC insured
https://time.com/6262009/silicon-valley-bank-deposit-insurance/ https://time.com/6262009/silicon-valley-bank-deposit-insuran...
- nimbleplum40 4y agoRight, so they aren’t guaranteed to get the money back, but SVB had large assets (likely enough to cover all deposits).
- qbasic_forever 4y agoThose assets are year old long term bonds that have to be sold at a loss now (since interest rates are way up and brand new bonds pay better than these older ones).
- lp0_on_fire 4y ago85% of _deposits_ weren't FDIC insured, not accounts. Every account is insured up to $250,000 by the FDIC. I'm sorry for the people in that position but it's a distinction with a difference.
- JackFr 4y agoLikely that Brex will loan you up to the max of your closing balance and 250K (the FDIC limit). Note that you need to link your account (so they can see your balance and transactions) to apply.