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by mdasen 1201 days ago
The announcement from Treasury, the Fed, and the FDIC was that depositors would be made whole and that there would be an assessment on banks to cover it. As such, I'd assume that there was no buyer.

https://home.treasury.gov/news/press-releases/jy1337

> No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer... Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

While they say "no losses will be borne by the taxpayer", making banks pay who will then pass along those costs to their customers seems like a roundabout way of taxpayers paying - or at least a substantial portion of taxpayers who are banking customers. Maybe banks won't be able to pass along the costs through increased fees or lower rates and will have to eat the costs.

1 comments

> will then pass along those costs to their customers seems like a roundabout way of taxpayers paying

By that logic the cup of coffee I bought earlier was paid for by the taxpayer because I a taxpayer paid for it.