[jacooper]

So the new DIND bank created by the FDIC is an actual bank? Not just some kind of temporary org until everyone withdraws their money?

[invokestatic]

The DINB, as I understand it, is now closed and all assets moved to a new entity called Silicon Valley Bank, NA which is a “bridge bank” operated by the FDIC and should operate like any other bank does. Until another bank buys it.

[chatmasta]

It's quite bizarre and I'm also wondering this. I have no idea if it's possible to deposit into SVB. But they claim that the bank is operating normally.

[dgacmu]

Yes. The bank is now a bridge bank: https://www.fdic.gov/news/press-releases/2023/pr23019.html

This is a mostly fully functional bank designed to help smooth the transition for depositors away from SVB to their new permanent homes.