The "haircut" would have been less than 15%, this is why the bailout of $151B in uninsured desposits was less than $20B and not $151B. So if they had $5M unins

The "haircut" would have been less than 15%, this is why the bailout of $151B in uninsured desposits was less than $20B and not $151B. So if they had $5M uninsured in SVB they would have received $4.25M and suffered only a 750k loss.