/biz/ - Business & Finance

>saved
SVB is gone, the FDIC took over that bank

>>54021224
Idk anon. My company just announced that payroll is frozen.

>>54021239
what does FDIC taking over mean? is that the same as it being saved?

does that mean depositors are ok?

>>54021224
I give it at least a 60% probability of being bought before Monday morning. The regulators will pull out all the stops to make it happen.

>>54021289
they will return some of the deposits back

>>54021289
>does that mean depositors are ok?
Only those with less than $250k. The startups who didn't pull out in time are shit out of luck unless SVB gets bought.

>>54021224
it is literally gone

>>54021377
so FDIC taking over will only save depositors up to 250k?
so we should pray the bank get's bought out, otherwise depositors over 250k will get fucked?
and the depositors >250k are big players who make up a large chunk of the deposits? so if they don't get saved, there will be contagion?

>>54021686
>so FDIC taking over will only save depositors up to 250k?
>so we should pray the bank get's bought out, otherwise depositors over 250k will get fucked?
>and the depositors >250k are big players who make up a large chunk of the deposits?
All correct.

>so if they don't get saved, there will be contagion?
This part is unknown. But the Fed has an interest in SVB getting bought out so they can continue to hike rates without worrying about possibly increasing systemic risk.

>>54021240
What company?

>>54021904
>The Fed that is interested in killing zombies is going to prop THIS zombie up because....... systemic buzzwords
I'll take that to the bank at least

>>54022029
Google

>>54021289
Shareholders get fucked