> The transfer of all the deposits was completed under the systemic risk exception approved earlier today. All depositors of the institution will be made whole.
Signature was #32 by total assets. By other Treasury pronouncements, only #1-#4 were "systemically important". One's head spins ...
https://banks.data.fdic.gov/bankfind-suite/financialreportin...
> No losses will be borne by the taxpayers.
None except those with bank accounts, who can expect higher fees as the balance sheet losses are recovered by what is effectively a systemwide tax on all banks.
> Any losses to the Deposit Insurance Fund (DIF) to support uninsured depositors will be recovered by a special assessment on banks, as required by law.