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The FDIC, Federal Reserve, and Treasury announced that depositors will be fully protected, and have access to all of their money starting 2023-03-13, so any EA-destined funds at SVB should be fine.
Curated and popular this week
Note: This post was crossposted from the Coefficient Giving Farm Animal Welfare Research Newsletter by the Forum team, with the author's permission. The author may not see or respond to comments on this post.
Subtitle: On vegan advocacy, effective altruism, and FIFA
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[Update: As to depositors, see Jeff's comment.]
Probably very little? While there's a chance that depositors will take a haircut, that haircut is likely to be modest. The larger issue for depositors may be loss of access to funds for a while, although I expect next week's advance payment will be substantial. And if I had money, I'd lend it with very little hesitation with the uninsured deposits as collateral -- would probably want something like 1.10 in deposits backing 1 in loans to be safe.
Such a large percentage of SVB deposits were uninsured that there isn't going to be a concentration of losses in that class the way there might be at other banks.
If a major funder has significant exposure to SVB bonds or stock, that might be a different story.