Midsize Banks to Feds: Insure All Our Deposits for Two Years

The request comes amidst a banking crisis that started earlier this month with the collapse of Silicon Valley Bank (SVB) and then Signature Bank. The group wrote:

“Doing so [insuring all deposits] will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures,” the Mid-Size Bank Coalition of America [MBCA] said in a letter to regulators seen by Bloomberg News.

So apparently the US Treasury and Fed have everything under control:

We now find that there are a number of US midsize banks requesting that FDIC insurance applies to all their deposits for the next two years.

— The Sirius Report (@thesiriusreport) March 19, 2023