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Reason: None provided.

Very informative, thank you. Right off the bat she says:

SVB was not a “systemically important financial institution” (SIFI) as defined in the Dodd-Frank Act, which requires insolvent SIFIs to “bail in” the money of their creditors to recapitalize themselves.

Here is Wiki's list of SIFI banks (ie, banks that are required to do bail-ins with YOUR money if they are failing, ie it might be prudent to move your money out of these to credit unions or some other non-SIFI bank)

https://en.wikipedia.org/wiki/List_of_systemically_important_banks

Thanks for posting this article, MissBear!

Edit to add:

With the huge derivatives bubble that is bound to burst someday, here is a list of banks knee-deep in derivatives, might want to check it over for yours:

https://www.usbanklocations.com/bank-rank/derivatives.html

1 year ago
1 score
Reason: add

Very informative, thank you. Right off the bat she says:

SVB was not a “systemically important financial institution” (SIFI) as defined in the Dodd-Frank Act, which requires insolvent SIFIs to “bail in” the money of their creditors to recapitalize themselves.

Here is Wiki's list of SIFI banks (ie, banks that are required to do bail-ins with YOUR money if they are failing, ie it might be prudent to move your money out of these to credit unions or some other non-SIFI bank)

https://en.wikipedia.org/wiki/List_of_systemically_important_banks

Thanks for posting this article, MissBear!

1 year ago
1 score
Reason: Original

Very informative, thank you. Right off the bat she says:

SVB was not a “systemically important financial institution” (SIFI) as defined in the Dodd-Frank Act, which requires insolvent SIFIs to “bail in” the money of their creditors to recapitalize themselves.

Here is Wiki's list of SIFI banks (ie, banks that are required to do bail-ins with YOUR money if they are failing, ie it might be prudent to move your money out of these to credit unions or some other non-SIFI bank)

https://en.wikipedia.org/wiki/List_of_systemically_important_banks

Thanks for posting this article, MissBear!

1 year ago
1 score