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I don't see anything to suggest this is the same. SVB ran into trouble because they took uninsured deposits (85% of deposits were not insured). I'm not going to
by bachmeier 3y ago
I don't see anything to suggest this is the same. SVB ran into trouble because they took uninsured deposits (85% of deposits were not insured). I'm not going to be withdrawing anything from BoA because all of my deposits are insured.
- fredgrott 3y agoYou do not understand how business customers are served in the banking system. Most business deposits are 85% uninsured because they are about the $400K limits.
- JumpCrisscross 3y ago> Most business deposits are 85% uninsured because they are about the $400K limits We have already set the precedent of full deposit insurance.
- bachmeier 3y agoI don't claim to understand anything. But I can read numbers. This report says 47% of BoA's deposits are uninsured: https://www.crowdfundinsider.com/2023/03/203681-sp-outlines-banks-by-percentage-of-uninsured-deposits/ https://www.crowdfundinsider.com/2023/03/203681-sp-outlines-... You may also find this page from the FDIC worth reading: https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/silicon-valley-faq.html https://www.fdic.gov/resources/resolutions/bank-failures/fai...