Does this mean that depositors have lost access to their funds until the bankrup... | Hacker News

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benjaminwootton on March 10, 2023 | parent | context | favorite | on: FDIC Takes over Silicon Valley Bank

Does this mean that depositors have lost access to their funds until the bankruptcy process, with the exception of $250k which will be available on Monday?

FireBeyond on March 10, 2023 | [–]

Technically yes, but the FDIC is also working to release as much uninsured funds as possible as an "advance dividend".

NordSteve on March 10, 2023 | [–]

That is correct.

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