"Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."
This paragraph intrigued me. "Certain unsecured debtholders"?
That is curious, exactly how is an unsecured debt holder defined? Is that non citizens, foreign depositors, people that have taken a loan (without any security)? Will be interesting to see how that is defined.
"Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law."
This paragraph intrigued me. "Certain unsecured debtholders"?
I just refuse to believe that a bunch of rich leftist elites will suffer a cent
That is curious, exactly how is an unsecured debt holder defined? Is that non citizens, foreign depositors, people that have taken a loan (without any security)? Will be interesting to see how that is defined.
There are multiple classifications (tranches) of debt.. Secured by Assets; Secured by equipment; ...; ...; and, Unsecured ...
People who bought bonds issued by SVB?