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Silicon Valley Bank deposits to be available Monday
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WASHINGTON (Reuters) – Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday.
“Depositors will have access to all of their money starting Monday, March 13,” the U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corp said in a statement. “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer,” the statement said.
Silicon Valley Bank deposits to be available Monday – US officials
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Comments (10)
Anyone is willing to pay for an extra 4 to 6 percent than to lose thier job. The FED acted late on inflation.
They should hire an experience black market trader than a Academic degree holder. A simple trade off they can’t comprehend.
James Kern
4 hours ago
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I see censorship is at work! So much for the CONSTITUTION!
Green Sprats
4 hours ago
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Bank Term Funding Program, which would offer loans up to one year to depository institutions, backed by Treasuries and other assets these institutions hold. (taxpayer assets)
Adamo Nals
5 hours ago
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Now you can all get ready for 100 basis point moves. Because inflation is going to skyrocket, and you’re going to have contagion across many of the community banks. This is all due to horrific board members and management, and nothing more. The government nor the Fed should do anything to help these companies or banks. Enough is enough. Everything comes from the tax payer and the market is going to crash tomorrow. Don’t buy into early morning pop. You literally sell all your equities at 9:35 am. Amd dont look back untill we are at 2700 on s&p amd 8-9000 on nasdaq
Warm Camp
5 hours ago
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No bank left behind. A compassionate socialism.
The bill will be paid by the taxpayer via INFLATION. Hope you like paying double the price you are now for food.
Green Sprats
5 hours ago
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hmmm… but how is The government covering the looses without taxpayers footing the bill. how does that work?
Warm Camp
5 hours ago
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They just found few extra bags full of cash near the printing press.
The FED is not the government.
Warm Camp
5 hours ago
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Victor Cuello Did you notice “US Treasury” words in the article?
Teena Marie
5 hours ago
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FDIC insurance per depositor up to $250,000. Possibly, sale or transfer of SVB assets to another bank for the uninsured deposits.
Tom Troung
5 hours ago
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sound like a solution is found. good job to them. they deserve credit for that.
Mad Money
5 hours ago
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They still need to explain how they will be funding the deposits
Jay Garrelts
5 hours ago
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Gee the tax payers must be happy lol
PaullyWanna
5 hours ago
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Anything less would have been irreversible and yet this still may not be enough.
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