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A comment on Urgent: Sign the petition now. Parent comment

Re:Urgent: Sign the petition now by JJMcJ on Saturday March 11, 2023 @07:06PM (#35114349)
SVB has some ordinary people as depositors, with a regular commercial bank as their Boston Private subsidiary. It would be very disruptive and cruel if they lost all or much of their deposits.

SVB's stockholders, on the other hand . . .

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Re:Urgent: Sign the petition now by lolinder on Saturday March 11, 2023 @07:21PM (#35114590)
The ordinary-people depositors almost certainly don't have more than $250k in the bank, so they will already be made whole by the FDIC on Monday.
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Re:Urgent: Sign the petition now by JJMcJ on Sunday March 12, 2023 @01:12PM (#35122860)
That is absolutely the plan. The assets are now with a new bank that will be open for business on Monday.

FDIC promises for the ordinary-people, everything will be uninterrupted. Checks from the older SVB accounts will clear, debit cards will work, money will be available.

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