Re:Yellen says government will help SVB depositors but rules...
by ec109685 on Sunday March 12, 2023 @01:12PM
(#35122857)
The flip side is also true: people claiming that unless the government provides a bailout, depositors above 250k will be wiped out.
There’s a procedure to handle this, including dispersing the assets:
“The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.”
There’s a procedure to handle this, including dispersing the assets:
“The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.”