Submitted by Substantial-Pass-992 t3_123e3l4 in news
127-0-0-1_1 t1_jdvu1b9 wrote
Reply to comment by LordOfTheDerp in First Citizens Bank to purchase assets of Silicon Valley Bank by Substantial-Pass-992
How do you think they’re going to get a higher interest rate for you? This is practically free money. Not only do they get 16.5b in arbitrage if they can maintain depositor liquidity, but the latter is extremely easy now that the fed is offering collateralized loans for federal bond assets at cost.
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