Comment on Forbes' kiss of death
Chocrates@lemmy.world 7 months agoDo banks have the authority to freeze withdrawals?
I don’t get why SVP didn’t just block all withdrawals as the panic set it.
Comment on Forbes' kiss of death
Chocrates@lemmy.world 7 months agoDo banks have the authority to freeze withdrawals?
I don’t get why SVP didn’t just block all withdrawals as the panic set it.
AlmightySnoo@lemmy.world 7 months ago
In theory yes:
(en.wikipedia.org/wiki/Bank_run)
But IMO freezing withdrawals would just add even more panic when the last thing you want as a bank is have more clients be anxious about their money.