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SVB has some ordinary people as depositors, with a regular commercial bank as their Boston Private subsidiary. It would be very disruptive and cruel if they lo
by JJMcJ 4y ago
SVB has some ordinary people as depositors, with a regular commercial bank as their Boston Private subsidiary. It would be very disruptive and cruel if they lost all or much of their deposits.
SVB's stockholders, on the other hand . . .
- lolinder 4y agoThe ordinary-people depositors almost certainly don't have more than $250k in the bank, so they will already be made whole by the FDIC on Monday.
- JJMcJ 4y agoThat is absolutely the plan. The assets are now with a new bank that will be open for business on Monday. FDIC promises for the ordinary-people, everything will be uninterrupted. Checks from the older SVB accounts will clear, debit cards will work, money will be available.