3/22/2023
When:	Wednesday, March 22, 2023 4:00 - 5:00 PM ET
Where:	Zoom Meeting United States
Contact:	NAFER Staff naferstaff@nafer.org 888-778-5933

The recent events involving the FDIC take-over of Silicon Valley Bank and Signature Bank are a wake-up call to all receiver-fiduciaries holding funds in trust for their receivership constituencies. Critical questions: Are the receivership funds being held in a Systemically Important Bank (“SIB”) recognized by the Federal Reserve and FDIC? If not, do you need to move the funds to a SIB? Is it sufficient, from a fiduciary point of view, for funds to be held in a non-SIB which are either collateralized by some sort of surety bond or “swept” daily into multiple banks with limits under $250,000 per bank? What factors should a receiver be weighing when considering whether to maximize return by maintaining funds in a higher interest rate account in a non-SIB vs. moving funds to a SIB without benefit of high interest rates? Is it necessary for receivership funds to be bonded? What other type(s) of protection are available to protect receivership funds?

These and other questions will be addressed by receivers and financial experts with active participation by attendees encouraged at this Receivers' Huddle Townhall style to be held on March 22 at 4:00 PM ET.