They've been quite clear the Cayman accounts weren't covered…and why WOULD they be?
FDIC is federal insurance…not foreign account insurance. pic.twitter.com/5xpgVRSdpf— NonnyLynda (@NonnyLynda) April 2, 2023
WSJ News ExclusiveFinance
The Pain of Silicon Valley Bank’s Collapse Is Being Felt by These Depositors
Customers that banked at SVB’s Cayman Islands branch have had their funds seized by the FDIC
on March 12 federal banking regulators, with the consent of the U.S. Treasury— Rosealp (@RosealpCL) May 17, 2023
Customers that banked at SVB’s Cayman Islands branch have had their funds seized by the FDIC.
SVB’s annual report said the bank had $13.9 billion in foreign deposits.
More than $1 Trillion Foreign Deposits at Chase and Citibank as U.S. Debt Crisis Looms.
Guess who’s money…
— Richard (@Thee_APE) May 16, 2023
h/t inna