Subject: Re: SVB bailout
<At this point, the plan was for all insured deposits to be made whole on Monday morning, up to the $250,000 limit. The FDIC clearly stated the following with respect to uninsured deposits:

"The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors."
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That's not enough to stop market panic because people don't know if the Fed would continue to do that for other banks.