EML is in a very different situation. SVB had to liquid assets they had intended to hold to maturity to fund a run of withdrawals - but they're a bank so they have much more discretion on what they can do with deposits.
eMoney institutions like EML are restricted to only making investments in very high quality, low risk assets ie government backed assets held to maturity.
EMLs cardholder float comes from hundreds of thousands of cardholders across Europe with small balances. Cardholders can typically can only spend funds off a card through POS so very unlikely to get a significant run of withdrawals as there is no concentration of funds.
IF you can hold the asset to maturity, and the underlying asset is sound, then there isn't a loss.
EML Price at posting:
44.5¢ Sentiment: None Disclosure: Held
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