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SVTPerformance's Chain of Restaurants
Road Side Pub
SVB is Now In the Hands of the FDIC
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<blockquote data-quote="VegasMichael" data-source="post: 16887923" data-attributes="member: 105950"><p>The other issue is that many people/companies/entities keep more cash in a bank account than is insured by the FDIC.</p><p></p><p>From the link below:</p><p></p><p>"Roughly 87% of Silicon Valley Bank's deposits were uninsured as of December 2022, according to its annual report. Uninsured depositors will receive an advance dividend within the next week and a receivership certificate for the remaining out of their uninsured funds, the FDIC said. It could make future dividend payments as it sells Silicon Valley Bank's assets."</p><p></p><p>[URL unfurl="true"]https://finance.yahoo.com/news/silicon-valley-bank-fdic-closed-largest-failure-financial-crisis-182643368.html[/URL]</p></blockquote><p></p>
[QUOTE="VegasMichael, post: 16887923, member: 105950"] The other issue is that many people/companies/entities keep more cash in a bank account than is insured by the FDIC. From the link below: "Roughly 87% of Silicon Valley Bank's deposits were uninsured as of December 2022, according to its annual report. Uninsured depositors will receive an advance dividend within the next week and a receivership certificate for the remaining out of their uninsured funds, the FDIC said. It could make future dividend payments as it sells Silicon Valley Bank's assets." [URL unfurl="true"]https://finance.yahoo.com/news/silicon-valley-bank-fdic-closed-largest-failure-financial-crisis-182643368.html[/URL] [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
SVB is Now In the Hands of the FDIC
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