[mattnewton]

JP Morgan isn’t really seen as being “exposed” to tech, in the way Schwab is. Schwab has a ton of customers in Silicon Valley, a lot of the big tech companies use them for RSU disbursement. So maybe the drops are seen as % exposure to Silicon Valley tech? Not saying the drop is rational, just trying to explain it to myself too.

[rabidonrails]

I believe that Schwab is not a money center bank. The money center banks have federal requirements to keep a large amount of their cash liquid. In this case that's providing them converage because this bank run wouldn't really have a devastating effect on them. Examples of the money center banks are Chase, BofA, WFC, and Citigroup.

The regulations that required that cash had been, in the past, seen as a detriment to the banks and people argued that the regionals would be strangled if they had the same requirements.

Right now specifically, it's not great to be really large but not a money center bank.

[pksebben]

obvious gpt is obvious.

I think you meant Charles Schwab there, Mr GPT.

[mattnewton]

Whoops, or a lack of coffee And phone autocorrect. Thanks, fixed.