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$TRILLION Bank Run Coming? FDIC Tells Foreign Depositors They're Not Covered
More stress on financial system as WSJ reports FDIC refused to cover $14B in deposits of failed Silicon Valley Bank on their Cayman Islands branch. US banks like JP Morgan have massive deposits from foreigners with just 2 banks, JPM and Citibank, having more than $1 Trillion that would be uninsured.
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