by visbanking | Jun 14, 2023 | Banking Knowledge Base
Estimated reading time: 0 minutes Table of contentsI. IntroductionII. What is the FDIC?III. What does FDIC insurance cover?IV. How much does the FDIC insure?V. Is FDIC insurance mandatory?VI. How do I know if my bank is FDIC insured?VII. What happens if my bank...
by Ken Chase | May 16, 2023 | Banks, News
The Federal Deposit Insurance Corporation (FDIC) has unveiled a proposal to replenish its deposit insurance fund. The proposal released on Thursday would see the nation’s largest lenders bear more than 95% of the cost, according to a recent Reuters report. The fund...
by Ken Chase | Mar 28, 2023 | Banks, News
Estimated reading time: 2 minutes North Carolina-based regional bank First Citizens has agreed to purchase Silicon Valley Bank, according to a March 26 statement from the Federal Deposit Insurance Corporation (FDIC). The FDCI confirmed that it had agreed to the deal,...
by Ken Chase | Mar 13, 2023 | Banks, News
Estimated reading time: 2 minutes The Treasury Department, Federal Reserve Board, and Federal Deposit Insurance Corporation issued a joint statement on Sunday confirming that all Silicon Valley Bank uninsured deposits will be fully covered. The same announcement...
by Ken Chase | Mar 10, 2023 | Banks, News
Estimated reading time: 2 minutes Financial regulators responded to Silicon Valley Bank’s (SVB) recent collapse by announcing that they have shut the bank down. The decision was made by the California Department of Financial Protection and Innovation, which announced...
