Well known ans respected financier Bill Ackerman has tweeted that he expects potential bank runs starting Monday (March 13) morning, if the FDIC is not really clear about when Silicon Valley Bank customers will get access to their funds that are over the $250,000 FDIC insured limit. Why he sees the chance of multiple bank runs, and his idea of a solution to stop them, are in this article on thestreet.com.
A "Statement of Support" has been signed by more than 100 venture capital firms and investors, according to this article.
A closed meeting of the Federal Reserve Board of Governors has been scheduled for Monday, March 13, 2023, at 11:30 (EDT) in Washington D.C. It is expected that the meeting will be held under "expedited circumstances," according to this notification on The Fed's website.
"How does a bank collapse in 48 hours? A timeline"- ABC7 report (2 1/2 minutes)
"Tech companies detail exposure to SVB" (Silicon Valley Bank)- CNBC report 3/10/2023
The Plain Bagel YouTube channel report on the Silvergate and SVB- Saturday afternoon, March 11, 2023 (16 minutes) According to this report, Over 95% of SVB's deposits ARE NOT covered by FDIC insurance.
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