The bank’s collapse has inspired a predictable round of hand-wringing in the financial commentariat. Including foreign deposits, which aren’t insured by the federal government, the total uninsured figure was 95.5%. deposits were uninsured as of the end of 2022 - a signal of its rapid growth in the hypercharged Silicon Valley economy of recent years. The bank had reported in its latest annual report that 87.5% of its $173.1 billion in U.S. The agency also advised borrowers from the bank to keep making required payments on their loans. The FDIC says they may ultimately receive more of their money back, but didn’t say how much or when. Uninsured depositors will get an “advance dividend” within the next week, and a chit for their uninsured funds. You may occasionally receive promotional content from the Los Angeles Times.
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