> Anyone who wants to park lots of money without paying the FDIC insurance cost can buy Treasury bills/notes directly This brings up the interesting question o

> Anyone who wants to park lots of money without paying the FDIC insurance cost can buy Treasury bills/notes directly This brings up the interesting question of what the role of banks should be. When savers have access to money market funds investing in short-term government debt (this is basically what SVB bought), why bother with the intermediary? We're also in a world of securitized mortgages where banks are just the originators. There are also mortgage originators that just do mortgages. These days, the only unique services banks provide are retail services and small business loans.