Chapter
The Importance of Backstopping Payroll Deposits
10:27 - 15:15 (04:47)
With thousands of smaller companies and employees relying on uninsured and uninsured payroll deposits, it's important to consider the downstream risks and backstop these deposits to ensure their safety.
Clips
Many US employees depend on uninsured and uninsured deposits to receive their paychecks.
10:27 - 13:26 (02:59)
Banking
Summary
Many US employees depend on uninsured and uninsured deposits to receive their paychecks. Silicon Valley Bank's move to shore up its capital reserves by selling some securities resulted in people flipping out, despite the bank being insolvent in September.
ChapterThe Importance of Backstopping Payroll Deposits
EpisodeMaking Cents of SVB’s Collapse With Mark Cuban and Sheila Bair
PodcastThe Problem With Jon Stewart
Third-party payroll processors use deposit swaps to insure accounts up to a billion dollars, but they distribute the $250,000 among different banks, making it a risk for small companies if their account reaches that threshold.
13:26 - 15:15 (01:48)
Payroll Processors
Summary
Third-party payroll processors use deposit swaps to insure accounts up to a billion dollars, but they distribute the $250,000 among different banks, making it a risk for small companies if their account reaches that threshold.