Investors are wondering just how safe their money is. With the recent news unfolding, we’ve been fielding numerous calls since late last week about the failing banks including Silicon Valley Bank (SVB) and Signature Bank. In episode 59 of 𝙔𝙤𝙪𝙧 𝙈𝙤𝙣𝙚𝙮 𝙈𝙤𝙢𝙚𝙣𝙩𝙪𝙢, CERTIFIED FINANCIAL PLANNER™ Professionals Tom Kennedy and Kevin M. Curley, II cover the bank collapses, what the government is doing about them, and where the FDIC and SIPC come into play. Don’t forget to watch for our upcoming show dedicated to everyone’s favorite topic…taxes.
Find it Fast: Failing Banks
Run on the Banks:
01:10—Run on Silicon Valley Bank and Signature Bank
06:47—Bank Term Funding Program (BTFP)
07:30—PacWest Bancorp, Western Alliance Bank, and First Republic Bank
10:50—Interest rates and bond market movement
Is Your Money Safe?
11:51—Failing banks, FDIC, multi-bank program, and SIPC
17:03—The custodian relationship
Listen in to Your Money Momentum published twice monthly. If you like this episode, check out our previous podcast Saddle Up for the Housing Industry.
The Your Money Momentum podcast is produced by: Pamela Engstrom