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Commercial banking

Having ordered the closure of Silicon Valley Bank in the USA, FDIC has created "Deposit Insurance National Bank of Santa Clara" to which depositors' funds will be transferred - so long as they are insured.

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There are news reports that some USD58,000 million was "wiped off" the share value of the USA's four biggest banks as soon as trading started today.

This matters to you.

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As banks find themselves subject to ever more stringent arrangements over correspondent banking, the process seems complex and esoteric. It isn't. Here's the BankingInsuranceSecurities.com guide to correspondent banking . Simple.

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