Wall Street β not taxpayers β will pay for the SVB and Signature deposit relief plans
https://nu.federati.net/url/289892
>Key Points
>
> The money to fully reimburse depositors of the collapsed Silicon Valley Bank and the shuttered Signature Bank will be furnished by other banks, not taxpayers, Treasury officials said.
> The Deposit Insurance Fund, which will cover the deposits, is funded with quarterly fees assessed on financial institutions and interest on government bonds.
> Using the DIF to shore up depositors is seen by the Biden administration as a way to avoid reigniting the public anger sparked by the 2008 taxpayer-funded Wall Street bailouts.
clacke: inhibited exhausted pixie dream boy πΈπͺππ°ππ
lnxw48a1
All Jonkman Microblog content and data are available under the