CNN CNN Newsroom With Fredricka Whitfield July 6, 2024
that ensures bank deposits and overseas financial institutions. the agency says all insured depositors will have access to their deposits no later than monday morning. the fdic ensures deposits of up to $250,000. why did this bank fail so quickly? >> it is an old school bank run in a modern economy. you can point to two reasons. the first is that the fed has been increasing interest rates since 2022. that has an effect on thing banks assets, which means its unrealized bonds were worthl...
Source: archive.org