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In the US, typically the bank is closed Friday afternoon and depositors have access to their insured money Monday morning.

In this case, depositors lost access to their money in the middle of Friday morning and will have access to their insurances deposits Monday morning.

So a very brief outage in the typical case. And about five or so extra hours in the SVB case. An FDIC takeover is efficient and well oiled.

I was suprised to learn that in the US deposits are insured up to $250K since 2008. In the EU it's only 100K euros and it seems low.

> In the UK, you are only covered up to £80k though...

Per bank.

Per banking group - a dangerous distinction! If you have 80k GBP in each of Bank of Scotland, Halifax and Lloyds Bank then you have 160k GBP at risk!