Will at least 3 US banks be taken over by the Federal Government before April 1st?
closed Mar 30
8%
chance

Bank failure defined as being taken over by the federal government of the USA.

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JonathanRay avatar
Jonathan Raybought Ṁ100 of NO

Time decay arb. FDIC only closes banks on fridays and this market failed to update downward on Friday the 24th

marktweise avatar
marktweisebought Ṁ70 of YES

Resolving as YES due to SVB, Silvergate Capital, and Signature Bank?

jack avatar
Jackis predicting YES at 100%

@camelwrangler Silvergate Capital was not taken over by the government, they are just liquidating privately, as far as I understand.

They are not on https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/

jack avatar
Jackis predicting YES at 100%

If you agree this resolution was in error, you can ask the admins to undo it and reopen the market.

camelwrangler avatar
Camel Wrangleris predicting NO at 100%

@jack sorry did i misread the article correctly? thanks, if incorrect how do i reach out to the admins?

jack avatar
Jackis predicting YES at 100%

@camelwrangler I'm getting a paywall, what does that article say about Silvergate?

Can ping @DavidChee to undo the resolution.

camelwrangler avatar
Camel Wrangleris predicting NO at 100%

@jack The bank failed to provide reliable and consistent data, creating a significant crisis of confidence in the bank’s leadership,” the state’s Department of Financial Services said in an emailed statement Tuesday. “The decision to take possession of the bank and hand it over to the FDIC was based on the current status of the bank and its ability to do business in a safe and sound manner on Monday.”

jack avatar
Jackis predicting YES at 100%

@camelwrangler Interesting. I wonder if they initially planned to hand it to the FDIC, then changed their mind.

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/silvergate-pursuing-voluntary-liquidation-in-california-without-fdic-74692281

the California Department of Financial Protection and Innovation, or DFPI, said it will facilitate "the safe and expeditious voluntary liquidation" of Silvergate.

With the liquidation being supervised by the DFPI, it is unlikely that the agency will appoint the FDIC as receiver for Silvergate, at least for now, said John Popeo, partner at financial regulatory advisory firm The Gallatin Group.

camelwrangler avatar
Camel Wrangleris predicting NO at 100%

@jack hi @DavidChee please undo the resolution of the market, Jack is correct.

DavidChee avatar
SirSalty
jack avatar
Jack

Starting from when?