Pale mayuu depositors are protected to the tune of $250,000.
Hapa Kenya the Kenya Deposit Insurance Corporation protects depositors to the tune of Ksh 500,000.
Therefore, max you should have at any single bank is 500k to be protected from bank runs.
That covers 99% of all Kenyans.
Basically, only wealthy Kenyans are truly exposed to bank runs unless you are stupid enough to have more than 500k in one bank ukiwa peasant.
Example. Ukiwa na 2.5M pale Equity and there is a bank run or collapse, you lose 2M. If you had the same amount spread across five banks, you lose nothing because the 500k at Equity is insured. Even in the highly unlikely event that all five banks fail, you lose nothing.
Sounds like a plan though Credit Suisse kuna issues ongoing pia. Maybe UBS. Though sidhani the hustle is worth it to bank abroad unless you are really wealthy.
Ni per depositor so you won’t be protected. Unless the accounts are under different companies (legal persons).
"KDIC is mandated to provide deposit insurance coverage of up to Ksh.500,000 to [COLOR=rgb(226, 80, 65)]each depositor of a member institution. The insurance covers all types of deposit accounts. However, protected payment is restricted to one depositor per institution. "
Ati the government will do what? Rescue?? :D:D:D:D You’re so naive. If something that drastic were to occur, guaranteed you are on your own. Hata US that $250k FDIC insurance is a psychological ploy. Tough luck! This is why you must convert some of your fiat money into hard goods. You need STUFF which you can barter trade with your neighbor, like I have extra blankets here let me trade you with a sack of beans….
SVB was the first bank to collapse that’s why. They wanted to reassure the people and prevent more bank runs. Make no mistake if all banks were to go down SVB style, politicians and their friends will take care of themselves first and get more deposits than the insured amount whether it’s 500k in Kenya or $250k in the US. They already show us constantly how they operate under a different set of rules so why do you think it would be different, especially during a time of crisis? They would take everything for themselves and enact a police state to prevent raia from taking forcefully what they’re ‘owed.’
Swiss financial market regulator FINMA ordered Credit Suisse to write down to zero some 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 (AT1) bonds, with the aim of bolstering the bank’s capital and resolving its liquidity problems.
AT1 bonds are a riskier form of bank debt, which were created in the wake of the global financial crisis of 2008, and represent a type of junior debt that allows banks to transfer risks to investors instead of taxpayers in cases of financial difficulties. Investors find them attractive as they pay higher interest due to the fact that they carry more risk than regular bonds.
While bondholders will be left with nothing, Credit Suisse shareholders will receive $3.23 billion under the UBS deal, despite the fact that bonds traditionally stand above equities in the banking hierarchy. The situation has angered bondholders, Bloomberg reports, as they now fear the authorities in other countries may follow the Swiss government’s lead.
Biden doesn’t even know what day it is, and you’re going to trust that fool and his lgbtq+ queers team to do what’s right? Bro….wake up. Do not put your trust in monopoly money, it’s just paper. You need to accumulate stuff which you can feel, touch, see real goods that have real value.