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A comment on SVB's programmatic payment systems are back online. Parent comment

Re:SVB's programmatic payment systems are back online by HPMOR on Monday March 13, 2023 @11:45AM (#35137334)
It is not urgent. All depositors assets, uninsured & insured, are being backstopped by the Treasury. No need to worry if your assets are being held by the FDIC receivership. Now, if your assets are at First Republic, there might be some concern, but I believe that the Treasury has sent a strong signal that depositors will be made whole.
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Re:SVB's programmatic payment systems are back online by robertlagrant on Monday March 13, 2023 @12:08PM (#35137690)
What does "sent a strong signal" mean in reality?
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Re:SVB's programmatic payment systems are back online by HPMOR on Monday March 13, 2023 @12:38PM (#35138198)
You're right, "sent a strong signal" is deliberately ambiguous, in the sense that there has not been a declared policy shift of the FDIC to protect uninsured deposits. However, given that SVB and Signature were not previously declared Systematically Important Banks, yet all of their depositors were made whole, should give depositors confidence that that the Federal Government will see they are protected.

Now, whether the FDIC should make this a declared policy position remains to be seen, but I believe that would require congressional action.

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Re:SVB's programmatic payment systems are back online by dmckeon on Monday March 13, 2023 @01:06PM (#35138731)
This was pretty strong: https://home.treasury.gov/news/press-releases/jy1337
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