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Re:FDIC accidentally reveals the Silicon Valley Bank deposit... by ensignavenger on Monday November 04, 2024 @07:33PM (#42047559)
If you want the details, it is laid out here- https://www.fdic.gov/news/speeches/2023/spmar2723.html

Skimming that and other sources, I could not confirm the assertion that no net money was spent bailing out depositors. If that was the case, then the FDIC wouldn't need to replenish their insurance fund.

Re:FDIC accidentally reveals the Silicon Valley Bank deposit... by dmurray on Tuesday November 05, 2024 @03:05AM (#42049556)
I skimmed a couple of sources and thought I caught that First Citizens paid zero, net of some guarantees, for "all of SVB's assets and liabilities".

That was wrong: it looks like the price was more like negative 16.5 billion [0] so that was the cost to the FDIC.

I agree with other commentators that even if the price was zero and the guarantees to FCB were never tested, the taxpayers still paid money in expectation - they took a bet without getting paid for the potential downside. I don't really agree with characterizations [1] of the deposit insurance fund as "not being from the taxpayers" - a fee on bank deposits is in other countries described as a tax, and even if not, the DIF is at least backstopped by the taxpayer.

[0] https://www.theguardian.com/business/2023/mar/27/silicon-val...

[1] https://apnews.com/article/svb-banks-fdic-first-citizen-sili...

Re:FDIC accidentally reveals the Silicon Valley Bank deposit... by kccqzy on Tuesday November 05, 2024 @01:25PM (#42053966)
Your link says:

> The FDIC estimates that […] Of the estimated loss amounts, approximately 88 percent, or $18 billion, is attributable to the cost of covering uninsured deposits at SVB while approximately two-thirds, or $1.6 billion, is attributable to the cost of covering uninsured deposits at Signature Bank.

With the caveat that these were estimates and there was significant uncertainty.