List of 10 Banks that raised similar red margin flags to those of SVB

[Anonymous]

Sandy Spring Bank is on the list - can someone please tell me what this really means. Talk to me like I'm in 5th grade:

https://www.morningstar.com/news/marketwatch/20230311312/20-banks-that-are-sitting-on-huge-potential-securities-lossesas-was-svb

[Anonymous]

Yawn

[Anonymous]

Ouch Ally is on there. Or is that a different Ally?

[Anonymous]

Anonymous wrote:Ouch Ally is on there. Or is that a different Ally?

No it's the same Ally.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ouch Ally is on there. Or is that a different Ally?

No it's the same Ally.

NP but yikes. Why?!

[Anonymous]

Sandy Spring Bank has not had a real head of internal audit in years. So no surprise

[Anonymous]

Stupid fear porn.

[Anonymous]

Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

[Anonymous]

Anonymous wrote:Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

Apparently the people in Boston lined up outside the svb bank do.

https://www.bostonglobe.com/2023/03/13/business/worried-svb-customers-queue-up-wellesley-get-money-answers/

[Anonymous]

Anonymous wrote:Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

No? The fed said specifically that that’s not what’s happening. SVB had enough from the sales of its securities to cover deposits.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

No? The fed said specifically that that’s not what’s happening. SVB had enough from the sales of its securities to cover deposits.

This is inaccurate. The securities still sit on the balance sheet of the receiver bank. It will take some time to see if recoveries from SVB's assets (dominated by securities) will be sufficient to pay off all the depositors, insured and uninsured. If not, there will be an assessment on banks.

[Anonymous]

Anonymous wrote:Yawn

Whistle past the graveyard if you must...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

No? The fed said specifically that that’s not what’s happening. SVB had enough from the sales of its securities to cover deposits.

This is inaccurate. The securities still sit on the balance sheet of the receiver bank. It will take some time to see if recoveries from SVB's assets (dominated by securities) will be sufficient to pay off all the depositors, insured and uninsured. If not, there will be an assessment on banks.

So where did the cash come from if it was not the banks securities and the govt did not bail out? All depositors were made whole today.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

No? The fed said specifically that that’s not what’s happening. SVB had enough from the sales of its securities to cover deposits.

This is inaccurate. The securities still sit on the balance sheet of the receiver bank. It will take some time to see if recoveries from SVB's assets (dominated by securities) will be sufficient to pay off all the depositors, insured and uninsured. If not, there will be an assessment on banks.

So where did the cash come from if it was not the banks securities and the govt did not bail out? All depositors were made whole today.

All the other banks in the US and their customers are bailing out SVB depositors.

Not the “taxpayer”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Didn’t the Feds basically say they will cover all depositors without limit? Why does anyone care?

No? The fed said specifically that that’s not what’s happening. SVB had enough from the sales of its securities to cover deposits.

This is inaccurate. The securities still sit on the balance sheet of the receiver bank. It will take some time to see if recoveries from SVB's assets (dominated by securities) will be sufficient to pay off all the depositors, insured and uninsured. If not, there will be an assessment on banks.

So where did the cash come from if it was not the banks securities and the govt did not bail out? All depositors were made whole today.

All the other banks in the US and their customers are bailing out SVB depositors.

Not the “taxpayer”.

So, most taxpayers who have relationships with banks.