Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC

Re:Joint Statement by the Department of the Treasury, Federa... by im_down_w_otp on Sunday March 12, 2023 @10:47PM (#35130319)

I don't get it. The FDIC insurance threshold is the bare minimum provided by law. SVB's assets are being sold off or restructured to protect depositors. This is literally the whole point of the receivership process. This appears at this point to be a fairly pedestrian FDIC bank take-over, save for all the culture war B.S. that's cropped up around it.

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Re:Joint Statement by the Department of the Treasury, Federa... by hypothesis on Sunday March 12, 2023 @11:09PM (#35130481)

So, at least two banks failed this week, 16th largest and a smaller one. Then Fed panics and effectively institutes an “unlimited” insurance/backstop policy, as a direct result.

I don’t know if I would call those events “pedestrian”.

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Re:Joint Statement by the Department of the Treasury, Federa... by justin66 on Sunday March 12, 2023 @11:26PM (#35130608)

> This appears at this point to be a fairly pedestrian FDIC bank take-over,

You believe invocation of the systemic risk exception is the norm?

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