Media: Bob Elliot, a former Bridgewater executive and CEO of investment company Unlimited, posted on social media that the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions on the future of Silicon Valley Bank may affect regional banks in the United States and cause these banks to face The risk of a run on trillions of dollars.
Data show that nearly one-third of deposits in the United States are deposited in small banks, 50% of which are uninsured, and the proportion of uninsured deposits in credit unions is even higher. According to data from the Federal Reserve, as of February 2023, the United States Small banks have $6.8 trillion in assets and $680 billion in equity. The failure of Silicon Valley Bank will bring "the risk of a run on thousands of small banks." 😱
