Comment by gorm

Thanks! They wouldn't even need to keep them in 1m treasuries as overnight rate has been above 2% since last summer and is now above 4%. Also they could just have opened accounts in more banks and have their deposits secured. SVB was in all practice insolvent already last summer. I don't think all these customers could be idiots so there must have been some incentive which rewarded them for keeping the money unsucred I think.