#92 SVB Regulators Bail Out Just 10 Depositors at Cost of $13.3 Billion?
Download MP3Banking Committee Hearings reveal many things about the ramifications of the failure of SVB Bank.New regulations, new guidance, new costs and much more. All that being said there was one sentence of testimony that is the five hundred-pound gorilla:Marty Gruenberg said "the ten largest deposit accounts at SVB held $13.3 billion" So this was a bailout.
Banking Committee Hearings reveal many things about the ramifications of the failure of SVB Bank.
New regulations, new guidance, new costs and much more. All that being said there was one sentence of testimony that is the five hundred-pound gorilla:
Marty Gruenberg said "the ten largest deposit accounts at SVB held $13.3 billion" So this was a bailout.
