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A comment on FDIC Takes over Silicon Valley Bank. Parent comment

Re:FDIC Takes over Silicon Valley Bank by renewiltord on Friday March 10, 2023 @01:19PM (#35098599)
It's how the FDIC does things. They pay what are called "dividends" on your previous deposits from the successor bank as they sell off assets.

But if you're curious, and want a layman no-jargon version the press release from the FDIC is pretty good.

I mean this in no uncertain terms. HN users know nothing about this and are regurgitating pure rubbish over and over again in this thread. If you're concerned, don't even trust me, but go read the press release. CA put out one too.

https://www.fdic.gov/news/press-releases/2023/pr23016.html

[ Parent | on HN ]
Re:FDIC Takes over Silicon Valley Bank by everybodyknows on Friday March 10, 2023 @03:22PM (#35100383)
> All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. ...
[ Parent | on HN ]