CNBC reported that SVB had roughly $209 billion in total assets and $175.4 billion in total deposits as of the end of December.
At the end of 2022, the FDIC reported that its Deposit Insurance Fund had a balance of $128 billion, about 1.27% of the total insured deposits.
If the FDIC's intentions are to make all depositors whole, way above the 250,000 insured cap, where is that money going to come from? As I understand it, that money will not come from taxpayer money. So if it's not taxpayer money then it's the FDIC's money... but they don't seem to have it.
At the end of 2022, the FDIC reported that its Deposit Insurance Fund had a balance of $128 billion, about 1.27% of the total insured deposits.
If the FDIC's intentions are to make all depositors whole, way above the 250,000 insured cap, where is that money going to come from? As I understand it, that money will not come from taxpayer money. So if it's not taxpayer money then it's the FDIC's money... but they don't seem to have it.