BrikoX@vlemmy.netM to

Interesting News from Around the World@vlemmy.net · 2 years ago

SVB Customers Who Lost Their Deposits Remain on the Hook for Loans

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SVB Customers Who Lost Their Deposits Remain on the Hook for Loans

BrikoX@vlemmy.netM to

Interesting News from Around the World@vlemmy.net · 2 years ago

1

WSJ News Exclusive | SVB Customers Who Lost Their Deposits Remain on the Hook for Loans

Customers of Silicon Valley Bank’s Cayman Islands branch who counted on using their deposits to repay credit lines are in a bind after the FDIC seized the funds.

Removed paywall: https://archive.ph/1d4uw

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2 years ago
Banks in foreign countries are not covered by FDIC. They don’t pay deposit insurance.

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