@Crash - ;) couldn't help it. My accounts went from 2 to 1 person so half the coverage. I was slowly correcting as CDs matured so I didn't get it done in this one instance within the 6mo. grace period. I moved the remaining high yield savings but would need to break a CD to get completely under $250K.
@WABAC Thanks. Corrected from NUCA to NCUA.

"Just don't do it. Don't go over $250K in any one place." Shouted the two old guys from the peanut gallery.

Well, you guys got me off my lazy, and I moved my last over the FDIC excess which produced a 5-day settlement window. (Technically still over a bit). So, should credit unions be safe if over $250K NUCA?

If they have supplimental insurance to cover a certain amount over 250K, you're probably ok. For significant cash holdings, I'd even consider throwing it into t-bills at a brokerage and rolling them regularly until you decide what to do with the money.

Well, you guys got me off my lazy, and I moved my last over the FDIC excess which produced a 5-day settlement window. (Technically still over a bit). So, should credit unions be safe if over $250K NCUA?

Following is an excerpt from a current article in the San Francisco Chronicle, a purported* SF newspaper:

A new bank, the National Bank of Santa Clara, has been created by the Federal Deposit Insurance Corp. to hold the deposits and assets of Silicon Valley Bank, and it will begin operating by Monday. But only accounts that fall below $250,000 are insured by FDIC; any winery with funds above that will have to wait an undetermined amount of time to find out if the additional amount will be paid back, partially or in full.

Since two of the few subjects that the SF Chronicle seems equipped to cover these days are food and wine, this article naturally focused on problems that the wine industry may face due to the failure of Silicon Valley Bank. The potential problems for safety of deposits in excess of the FDIC 250k coverage limit will apply, of course, to all deposits of that type.
* Having been a reader of San Francisco newspapers for some 75 years, I can accurately report that the current San Francisco Chronicle is barely a faint shadow of what a real newspaper should be, and in fact, of what the Chronicle once was. The Hearst Corporation is evidently targeting readers between 12 and 20 years of age.

Here it comes...
Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank
https://www.coindesk.com/markets/2023/03/10/scrutiny-falls-on-43b-usdc-stablecoins-cash-reserves-at-failed-silicon-valley-bank/
Per Circle: "Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally."
[narrator]: "Until it can't...."
The USDC chart since that official tweet has, predictably, fallen off a cliff.
Posting the 'this is fine' meme would've been about as reassuring as their official update tweet, I think.

I have avoided the Big Dogs just on principle, remembering the GFC. BPRN Bank of Princeton (on watch-list) was up on Th. by 0.3% but could not do it again today, Friday: down by the same amount. NYCB was suggested to me just a few days ago, here. :)
Its share price got clobbered, the past couple of days. I wonder if it's simply because of its Gotham exposure?
Do we need to come up with a new category entirely, for the sake of accuracy? I eschew the BIG banks. Then there are mid-sized banks. Regional banks. (Zions, Huntington.) Then small banks. Should there be an "obscure banks" category? Wherever my own "darling" fits, she is down for this past full week by -9.05%. ( BHB but up +0.48% in the after-hours, which never helps the likes of ME.) Price target is 22% higher than its closing price today, Fri. 10th March, '23. (Number there is from Stock Rover.)
BHB has branches all over northern New England. Still no panic here. I see a buying opportunity. Same with BPRN, when it falls a bit further.

proposals for what is needed down the road
https://messaging-custom-newsletters.nytimes.com/template/oakv2?campaign_id=116&emc=edit_pk_20230310&instance_id=87416&nl=paul-krugman&productCode=PK&regi_id=22268089&segment_id=127474&te=1&uri=nyt://newsletter/4bd85c9f-13a6-59af-9f1d-5783720b47e8&user_id=83d45440ead1d14c2a89a1e7221337d1

Thanks @Crash for sharing some of your winners. I noticed too that HY held up well today.
I just checked the average 2022 performance of those 3 (tracking) funds and came up with a dismal -14.25% combined return for 2022. A lot worse than I fared. Can’t explain why they had such a horrible 2022, other than both bonds and equities fell in tandem (and I caught some lucky breaks as well).

PRISX (financials) is my dog I keep around because I like to kick it across the room. I kicked it hard today. -3.52%. I'm glad that since the New Year, I've already redistributed a ton of what used to be in there.
Two of my smallest holdings were up: JRSH +0.83% and SCHP (TIPs) +1.43%. Among all the others--- all losers today--- the one which fared best was HYDB junk bonds - 0.08%. But I own barely a toe-hold there. And my OEF junk managed not to get murdered badly at all. It's a strange world. TUHYX and PRCPX.
Full portfolio -1.16% on the day.
My classmate Kevin would ask: "Are you bragging or complaining?"

Kinda funny after all the hoopla today. For over a year I’ve tracked 3 funds daily - none of which I own - that I think roughly represent my conservative risk tolerance and modest investment goals. The 3 are equally weighted in dollar terms. Today, they came out perfectly flat. Zip / Zero / No Change . A bit of a surprise (and somewhat better than I fared).
AOK + 0.09%
ABRZX + 0.24%
PRSIX - 0.34%
Net change 0%
All 3 benefited from substantial bond holdings. ABRZX also plays around with derivatives. While I currently own none of these, I did own ABRZX and PRSIX for part of 2022. Have never owned AOK - but find it somewhat intriguing.
Footnote - As I mention below in a note to Crash, the 3 funds did not live up to my “hype” last year - losing an average 14.25% over the course od the year. Ouch!
My day? Have plenty of bond funds, all of which held up well. Equities? Pretty roughed up except for 1 large consumers staples company and one p/m mining company, both of which rose. Overall - a down day, but not as bad as expected.

Friend uncle works at sivb for 15 +++yrs have 300k $$$ in sivb stocks... Not sure why did not diversified
90s% $ gone in 2d
Mama had 50k in first republic banks in sjc, matured 2 months ago... Asked her to move $$ to schwab so we bought more bonds... She is extremely lucky today... First republic may belly up next

"Although SVB was 50 years old? its hard to know in these situations."
@Devo- Yes, exactly my point. Lehman and Home Savings were big outfits too.

@gman57

They (Liesman, Santelli, others) were talking about how the banks were treated after they came to the rescue last time (Lehman's) that they may not be in such a hurry to help out now. Implying they got screwed by the government somehow.

That is frankly hilarious. It was the government and taxpayers who footed the bill for the banking sector executives' golden parachutes after the 2008-09 crash, and none of them saw any jail time for some of the nonsense they pulled with subprime. This time when they fail the government should say let them eat cake.

***Only 2.7% of Silicon Valley Bank deposits are less than $250,000.
Meaning, 97.3% aren't FDIC insured.****
Does that mean folks has >250k in cd @ Sivb are f%%%%%cked since Fdic only allow max 250k?
What happened to the cd at bears Stearns or Lehman Brothers... Anyone remember???? Did folks recoup the losses

Do business with solid institutions. We don't have to try out anyone's latest innovation or gimmick in matters of money. Although SVB was 50 years old? its hard to know in these situations. but explains why JPM is up 2.5% today. when in trouble, everyone goes to papa.

Hopefully we all know or understand that holding bonds or CDs of various types can easily lead to a capital loss if we are required to sell those types of instruments before maturity, and if their value has meanwhile deteriorated due to overall financial market conditions.
But I had never given any thought to the possibility of potential bank losses when they have parked substantial amounts of their money in "ultra safe" US Treasuries. An article in this morning's WSJ pointed out that banks are potentially in the same situation as we are.
A bank such as Silicon Valley Bank can have a significant amount of their capital in short-term "safe" Treasuries, but if they are faced with an unexpected run on their deposits, they can be forced to sell those Treasuries before maturity, and at a loss.
So even a reasonably run bank can get into trouble. In the case of Silicon Valley Bank, evidently a significant number of demand deposits are/were well in excess of the 250k FDIC protection, so when things got shaky a number of large depositors were very quick to attempt to withdraw very substantial amounts of the bank's deposits.
I suppose that there's a "lesson" of some sort to all of this, but I'm damned if I know what it is. Forget banks, use mattresses or a box buried in your backyard?

Is there any reason to think his message helped take your & my funds down today ?

We can wish …
@Derf - Check out how much the Fed has ratcheted up their overnight lending rate during the past 15 months.

I was taught in a college communications class more than a half century ago: ”A percept is a product.” / While we can mitigate the actual significance of the failure of SVB and put it into proper perspective, the perception out there among the investing public (and perhaps some in the investment community) may be substantial.
PS - Every teacher’s wish is that their students still remember what they were taught 50 years later. :)

What a day. First Republic Bank another one of those west coast banks had a low today of 45. As I post this it has almost doubled off its lows trading at 89. Looking more and more like Silicon Valley Bank is an outlier with its own specific problems. But with the weekend coming who knows what the market close has in store for us. Can’t see how this mini banking crisis can resolve itself in just one or two days.