FDIC Takes over Silicon Valley Bank
I was just thinking it would be cool if FDIC posted status reports like an incident update thing…when you have you know a technical issue or an outage this kind of like a running stream of commentary and updates posted by the company if they’re handling it well.9 am We’re currently experiencing a liquidity issue with our SVB partner and are investigating11 am Access to 23% of accounts is now restored12 noon The issue is worse than we first thought. We are taking remediary steps to prevent contagion of the issue1 pm We aim to have access to under-250k accounts back up by Monday Eastern 9am. Status of larger accounts is unclear as we assess the scope of the damageEtc…It’ll be cool if FDIC was posting this kind of info over the weekend…but they probably want to avoid that because it just be fueling the social media speculation mill but it would be good I think.