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> $250k comes out of taxpayer coffers Monday morning This isn't coming out of taxpayer coffers. FDIC insurance premiums are paid by the banks.
by tock 4y ago
> $250k comes out of taxpayer coffers Monday morning
This isn't coming out of taxpayer coffers. FDIC insurance premiums are paid by the banks.
- JumpCrisscross 4y ago> isn't coming out of taxpayer coffers. FDIC insurance premiums are paid by the banks Fair enough. The FDIC is funded by premiums but backstopped by the Treasury. There is no private insurance function that pays out at this scale the next business day.
- KptMarchewa 4y agoWhich scale? 0 dollars? All of what will be paid on Monday will be paid out of SVB's assets, which are being liquidates as we speak.
- JumpCrisscross 4y ago> what will be paid on Monday will be paid out of SVB's funds Possibly, but not necessarily. FDIC funds pay insured deposits before determinations about assets are made.