The FDIC will cover the first $250,000. But about 90% of SVB's clients had more than that invested. A top investment bank estimated it could take anywhere from 60 days to up to two years for clients to get paid out. Even then, SVB clients could get only 80 to 90 cents on the dollar if no buyer steps in.
Silicon Valley Bank collapses, President Biden’s budget proposal, and lawsuits filed against FBI for lack of transparency. Get the facts first with Morning Wire.
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