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Companies were encouraged to hold deposits at SVB in order to get a line of credit....  In which case, they are debtors of #SVB as well as creditors.  In which case they are going to get closed out as part of the unwind.   You cannot have this one both ways unless a government bails the whole lot out or some consortium bails it out.

It is too big for the Private Credit market and the #FRB doesnt want any big bank buying it. So government is the only horse in town.