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by compiler-guy
1196 days ago
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In the US, typically the bank is closed Friday afternoon and depositors have access to their insured money Monday morning. In this case, depositors lost access to their money in the middle of Friday morning and will have access to their insurances deposits Monday morning. So a very brief outage in the typical case. And about five or so extra hours in the SVB case. An FDIC takeover is efficient and well oiled. |
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