There's already people lining up out the front of other small banks in the US on the weekend, you can confirm that yourself.
That's a pretty good sign a bank run is on the cards unless the FDIC pull a rabbit out of the hat
For context though FDIC only have around $225 billion in assets
US banking system has over $22 trillion
That means FDIC assets only cover just over 1% of deposits
I'll let you do the math if this spreads further than SIVB - cause they'd be all out of they tried to cover that one alone...
However now the FDIC and the Fed are meeting to talk about insuring deposits IF more banks fail.
Key word there is IF
That means they'll wait for a run on banks to stop a run on banks in future - crazy.
Big 24hrs ahead and you'd hope authorities make some decisions before Aussie markets open - atm they are scheduled for 11:30am Monday US time (so after our Monday session has passed). .
CBA Price at posting:
$95.51 Sentiment: None Disclosure: Not Held
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