FI Weekly – March 14, 2023: FDIC Insurance Limits, New Podcasts (and Quotes)
FDIC Insurance Limits Silicon Valley Bank, the 16th largest bank in the US, nearly went out of business this past week when there was essentially a run on the bank. Depositors rushed to get their money out, and it caused a liquidity crisis. At the time I am writing this, a solution is being floated and it seems that all depositors will be made whole. But this wasn’t clear at the beginning of the crisis, because, by most estimates, over 90% of the nearly $200 billion of deposits at SVB were not covered by FDIC insurance. While this crisis most likely won’t impact you,