Extra hip tip to everyone who offered help and shared or crowd sourced ideas. Hat tip everyone who scrambled to build alternative solutions over the weekend in case this didn't happen. *** UPDATE - according to Yellen all funds for depositors will be available by Monday 3/13. banking system remains resilient and on a solid foundation due to reforms made after the financial crisis that ensured better safeguards for the banking industry. The Fed will make additional funding available to banks to help assure they have the ability to meet the needs of all their depositors.Any losses to the FDIC's fund to support uninsured depositors will be recovered by a special assessment on banks.Equity holders and certain unsecured debtholders will not be protected, and senior management has been removed.All depositors of this institution will be made whole, and no losses will be borne by taxpayers. A similar "systemic risk exception" was also announced for Signature Bank, which closed its doors by state authorities today.Everyone will have access to ALL of their deposited funds starting tomorrow, March 13th, and no losses associated with the resolution will be borne by taxpayers.
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