Since Silicon Valley Bank’s collapse in March, 47 banks restated their Dec. 31 uninsured-deposit figures downward by a total of $198 billion, a Wall Street Journal analysis found
The Federal Deposit Insurance Corporation is doing what it was designed to do when banks like Silicon Valley and Signature go under: cover insured deposits.
Here’s how the FDIC works and why it was created. Photo illustration: Madeline Marshall. In the weeks after, dozens of banks tweaked their numbers to reduce the portions of their deposits that they said were uninsured.Continue reading your article with
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