Small U.S. banks see record drop in deposits after SVB collapse

[大汉奸柳传志]

Deposits at small banks fell $119 billion to $5.46 trillion in the week ended March 15. That was more than twice the previous record drop and the biggest decline as a percent of overall deposits since the week ended March 16, 2007.

Small U.S. banks see record drop in deposits after SVB collapse

Deposits at small U.S. banks dropped by a record amount following the collapse of Silicon Valley Bank on March 10, data released on Friday by the Federal Reserve showed.

www.reuters.com

 

[casual]

basically, if a bank is 'too big to fail' the fed will guarantee deposits. smaller banks will probably start failing.

 

[Hamartia Antidote]

basically, if a bank is 'too big to fail' the fed will guarantee deposits. smaller banks will probably start failing.

..and we all know what the chances are of anybody getting more than $250,000 back in some small bank in the middle of nowhere...close to ZERO.

..and if you were lucky to have under $250,000 I bet they wont give it to you for like 5 months or something and make you first go through some hellish paperwork nightmare.

Meanwhile everything peachy with SVB within a few days.