That makes a little more sense. Not sure it changes the level of horrible.
[Reply]

That is some really interesting data on that chart. I wish I could find that somewhere where I can see it.
[Reply]

Apparently my work banks with them as well. That's...less than ideal.

Not sure the extent to which we have funds there, but they're at least in the portfolio.
[Reply]

Actually, as I dig around a bit, I think they're mostly an investor rather than our "bank." So we're in the assets column rather than the deposits column. Still, could get interesting to see how that plays out.
[Reply]

How many other banks are in the same death spiral? SVB weren't the only ones parking their assets in long term bonds.
[Reply]

Why don’t you open a cash management account with Fidelity? They layer your deposits across multiple institutions and its FDIC insured up to $3mm. And the rate (4.22%) is probably higher than your banks.
[Reply]

Jesus dude.

Go back and edit all your posts now! :-)
[Reply]

Probably not too many. SVB balance sheet was made up of a high a percentage of long term, low yield assets.
[Reply]

I just bought 10 shares of QYLD because of all this mayhem. Must save myself!
[Reply]

I’m setting up a similar deal with a different outfit, but I haven’t finished it yet. I’ll definitely look into Fidelity though, thanks.
[Reply]

Makes you wonder if you should have all assets over $250k separated into different accounts/institutions to protect from something like this. I've always been told no, it's not needed, however..............
[Reply]

Just read that FDIC has enough on the books to insure about 1.3% of ALL current US deposits or about the size of all SVB.
[Reply]

Source or link?
[Reply]

https://twitter.com/gaborgurbacs/sta...845079555?s=21
[Reply]

I fail to see the issue here. It's not like insurance companies have the funds to pay out every policy at once. :-)
[Reply]