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Status page for SVB payment systems
- sql-spy 4y ago[flagged]
- Marinus 4y agoTo how many threads are you copy-pasting this?
- deleted 4y ago[deleted]
- tus666 4y agoDidn't the company collapse and is now being run by the FDIC?
- loeg 4y agoWell, yes. This page is probably talking about the bank formerly known as SVB; now known as DINB of Santa Clara.
- SteveNuts 4y agoBAI2 now that's a term I haven't heard in a long time, thank goodness. I wonder if there files are read from an FTP server?
- blindriver 4y agoThey use SFTP now.
- mattmarcus 4y agoYup, it is SFTP for both sending files (initiating payments) and receiving files (getting balances, confirmations, etc). This is how most programmatic money movement was happening under the hood at SVB (and many other banks for that matter).
- deleted 4y ago[deleted]
- jetbalsa 4y agoI'm not surprised, I always wondered how that happened on the backed nowadays. I figured they had upgraded over the years and made it a little more streamlined. no wonder it still takes some time to move stuff around... I wonder how is the SFTP discovery / account process happen?
- joe_the_user 4y agoI gather moderntreasury.com is private company. It is slightly confusing - at first glance I thought this page and this info was connected to US Treasury Department.
- pcdoodle 4y agoSame, easy mistake.
- blindriver 4y agoThe head of finance at our company was in line all day this morning to transfer the company's money out of First Republic in South Bay. He said that the parking lot was filled with Ferraris and Porsches all illegally parked because there was no space left. Monday is going to be a very interesting day. If a buyer isn't found for SVB and possibly First Republic before the open on Monday, it might be a really bad day on the markets.
- nemo44x 4y agoWe will see what happens this weekend but if Ackman is right then we’ll see bank after bank go to 0 in the coming weeks and months. 50% of mortgages were written (new + refinanced) between 2020 and 2022. These are all in bonds paying 3% or less. Who is holding these? If deposits were used to buy these then so many banks are done for. Those depositors want their money back so they can get 4%+ interest now. Everyone is going to start to pull. Contagion is here.
- blindriver 4y ago> These are all in bonds paying 3% or less. Who is holding these? Fannie Mae and Freddie Mac. Most mortgage originators packaged up the mortgages and sold them immediately to the government.
- bequanna 4y agoThey didn’t “sell them to the government”. However, the Fed was actually a large purchaser of MBS if that is what you’re referring to.
- blindriver 4y agoOkay it's technically not a part of the government, but it's a Government Sponsored Entity with public ownership. All mortgages bought by them have an implied guarantee by the US government. So they did sell them to "a government-sponsored entity and the US government has an implied guarantee to pay any defaults."
- TotlStartupDeth 4y ago[flagged]
- mattnewton 4y agoI’m sure this is some kind of performance art but not sure this is the place for it?
- loeg 4y ago@dang, maybe consider banning the IP or something.