The bank reported that the #transfer volume of consumer fiat #deposits drop roughly $50 billion in the third quarter of 2022 compared to that over the same period in 2021.

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

The bank reported that the #transfer volume of consumer fiat #deposits drop roughly $50 billion in the third quarter of 2022 compared to that over the same period in 2021.

The FDIC insures small #deposits in all the banks in the US, but that only covers about 9tln of the nearly 17tln of outstanding deposit base. [...] Under the hood the coverage rate is roughly 50% across most #institutions while credit unions are higher (not above)."

In a #Twitter thread on March 11, Elliot stated that nearly a third of #deposits in the United States are held in small banks, and around 50% are uninsured.

They invested short-term #deposits in longer-term, fixed-rate assets. Thereafter short-term rates went up and a bank run ensued. Senior #management screwed up and they should lose their jobs.”

In a #Twitter thread on March 11, Elliot stated that nearly a third of #deposits in the United States are held in small banks, and around 50% are uninsured.

The FDIC insures small #deposits in all the banks in the US, but that only covers about 9tln of the nearly 17tln of outstanding deposit base. [...] Under the hood the coverage rate is roughly 50% across most #institutions while credit unions are higher (not above)."

Fiat #deposits and withdrawals via bank cards and other payment services have been #suspended throughout Ukraine, the exchange reminded.

FTX #represented less than 10% of Silvergate Bank’s total deposits, but the bank lost 68% of its #deposits in the aftermath of FTX's bankruptcy, setting off a fatal chain of events for the bank. Gruenberg said:

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

In response to these #developments, the Fed has used the Bank Term Funding Program (BTFP) to inject additional liquidity into the banking system and cover #deposits, with politicians reassuring the public that the banking system is secure.

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

Fiat #deposits and withdrawals via bank cards and other payment services have been #suspended throughout Ukraine, the exchange reminded.

that the #transfer volume of consumer fiat #deposits drop

that the #transfer volume of consumer fiat #deposits drop

that the #transfer volume of consumer fiat #deposits drop

that the #transfer volume of consumer fiat #deposits drop

that the #transfer volume of consumer fiat #deposits drop

that the #transfer volume of consumer fiat #deposits drop

The bank reported that the #transfer volume of consumer fiat #deposits drop roughly $50 billion in the third quarter of 2022 compared to that over the same period in 2021.

The process #included two separate auctions for SVB’s assets, one for its traditional #deposits unit, and the other for its private bank, which is housed within its retail operations and caters to high-net-worth individuals.

The bank reported that the #transfer volume of consumer fiat #deposits drop roughly $50 billion in the third quarter of 2022 compared to that over the same period in 2021.

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

#Yellen Says US Could Back All #Deposits at Smaller Banks if Needed to Prevent Contagion

U.S. Treasury #Secretary Janet Yellen says the federal government could guarantee all #deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.”

The bank reported that the #transfer volume of consumer fiat #deposits drop roughly $50 billion in the third quarter of 2022 compared to that over the same period in 2021.

The bank reported that the #transfer volume of consumer fiat #deposits drop roughly $50 billion in the third quarter of 2022 compared to that over the same period in 2021.

In a #Twitter thread on March 11, Elliot stated that nearly a third of #deposits in the United States are held in small banks, and around 50% are uninsured.

The FDIC insures small #deposits in all the banks in the US, but that only covers about 9tln of the nearly 17tln of outstanding deposit base. [...] Under the hood the coverage rate is roughly 50% across most #institutions while credit unions are higher (not above)."