Re:SVB chief pressed Congress to weaken risk regulations
by belter on Sunday March 12, 2023 @09:14AM
(#35119695)
The government already solved this with the FDIC deposit insurance, and it is funded by the banks.
"...The FDIC is not supported by public funds; member banks' insurance dues are its primary source of funding. When dues and the proceeds of bank liquidations are insufficient, it can borrow from the federal government, or issue debt through the Federal Financing Bank on terms that the bank decides." - https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corp...
"...The FDIC is not supported by public funds; member banks' insurance dues are its primary source of funding. When dues and the proceeds of bank liquidations are insufficient, it can borrow from the federal government, or issue debt through the Federal Financing Bank on terms that the bank decides." - https://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corp...