Don’t call it what it is….
The Federal Government is seeking to’ bail out ‘the banks depossits IN WHOLE……
The ‘crisis’ mode has dropped from the headlines but things ain’t normal for the industry which has tried to prop up things on it’s own with coaxing from the Feds…….
US financial authorities are considering expanding the line of credit they extended to banks earlier this month to prevent the collapse of First Republic Bank, which had received a $30 billion bailout from a consortium of its own competitors, according to Bloomberg News.
Bloomberg reported over the weekend that the expansion of the Fed’s lending facility is one of several public sector options now under consideration by government officials to further prop up the teetering banking industry.
The Fed can’t change its policy in response to the matters pertaining to individual banks. Rather, it has to craft policies that cater to the banking sector as a whole.
But Bloomberg reports that “the change could be made in a way to ensure that First Republic benefits,” according to the “people with knowledge of the situation” cited in the article.
After the initial collapses of Silicon Valley Bank (SVB) and Signature Bank, the Federal Deposit Insurance Corporation (FDIC) reimbursed depositors of those banks with money from the FDIC’s deposit insurance fund, which had around $128 billion in it…..
What does the above mean?
It means the US Govt. is gonna make sure that if you go to the bank and want to take out money?
The bank WILL have it to give….
Even if it above the advertised Federal Insured max amount….
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