From the Face The Nation transcript - MARGARET BRENNAN: For those depositors, about 85% of SVBs accounts were uninsured. And, as you were saying, a lot of diff

From the Face The Nation transcript - MARGARET BRENNAN: For those depositors, about 85% of SVBs accounts were uninsured. And, as you were saying, a lot of different tech firms relied on them. Do you believe that depositors should be paid back in full? Will they? SECRETARY YELLEN: Look, I'm not going to comment on the details of the situation at this point. I simply want to say that we're very aware of the problems that depositors will have, many of them are small businesses that employ people across the country. And of course, this is a significant concern, and working with regulators to try to address these concerns. So that means (if the other numbers above are correct) that there should be approximately $150 billion in assets that are currently uninsured. The risk of contagion may be less than during the 2008 financial crisis if there is less counterparty risk (banks owing other banks assets and no one understanding who owns the underlying). There would be a problem to the extent that VC firms may go bust and this trickles up to hedge funds and larger institutions. That risk is hard to assess and asset holders have every incentive to claim that risk to be high.