Yep, same as portfolio type as svb.Poor banking practices exposed?
What is the story here?
Such a pile of shittolaYep, same as portfolio type as svb.
I honestly thought they'd tank last month.
That's not how it works. I don't know how much cash a bank keeps on hand, but keeping it all would be insanely dangerous.In reality our banks should be heavily armed and secured 24/7 and hold all of the cash invested in them so they can give it back to it's investors/bankers at any given time...the facade is being exposed
I know that isn't how it works, every dollar they "hold" for the customer is spent/invested 10 times over.That's not how it works. I don't know how much cash a bank keeps on hand, but keeping it all would be insanely dangerous.
It's loaned out/invested.
There isn't a bank anywhere that would be able to literally cash out every customer should they all happen to show up on the same day.
After Hezbollah speech.Customers grapple with deposit delays at big banks. What it means for you
Customers at several big banks on Friday wrestled with direct deposit delays, stemming from an industry-wide processing issue.www.cnbc.com
Wife's direct deposit didn't post to her bank account. It usually shows on Thursday - as of this morning it still wasn't there.
Her company is saying it's a widespread problem outside of their control.
I know this - the explanation being fed to the media is likely complete bullshit.