[tenpies]

On paper, only SVB.

In practice, we just saw that the US government will gladly retroactively change the rules to insure any amount of money. For all practical purposes, trillions of dollars in deposits became insured by US tax payers this week.

And that's on top of the totally-not-QE BTFP facility they conjured up. That is available to all insured banks who have any underwater asset that they wish to move to the Fed's balance sheet at par for a mere ~5% per year.

[jacooper]

> For all practical purposes, trillions of dollars in deposits became insured by US tax payers this week.

By the FDIC, not the tax payer.

[TMWNN]

Said insurance is paid for by bank customers. The union of bank customers and taxpayers is 1.