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Like I said, charles schwab is mostly a broker. They do not have tons of deposits with them.
by guywithabowtie 4y ago
Like I said, charles schwab is mostly a broker. They do not have tons of deposits with them.
- sowbug 4y agoAre you asking us or telling us? Schwab is the eighth largest bank in the US.
- guywithabowtie 4y agoI may be wrong ! The news source was incorrect in that case.
- rabidonrails 4y agoFrom Schwab's press release: "More than 80% of our total bank deposits fall within the FDIC insurance limits, among the five highest ratios of the top 100 banks in the United States."
- PeterisP 4y agoThey do have some 366 billion of deposits according to https://finance.yahoo.com/quote/SCHW/balance-sheet/ https://finance.yahoo.com/quote/SCHW/balance-sheet/ , twice as much as SVB had.
- guywithabowtie 4y agoI accept that I am definitely wrong in that case. Apologies, and yes, this can be eye opener.