Silicon Valley Bank’s high level of uninsured deposits helped kick off the run that led to the bank’s closing down, and now any of those depositors will need to hold their breath to see if bank regulators can recover enough to make them whole.
Friday’s announcement by the Federal Deposit Insurance Corporation that the bank was closed came with few specifics on what will happen to bank customers who held more than the $250,000 per account that is guaranteed by the government.
Source : Shutdown of Silicon Valley Bank Leaves Uninsured Depositors in Limbo