My man credit Suisse was on the brink of collapse and is considered a vital cog in international banking. Contagion threat was through the roof. These regional banks had hundreds of billions of dollars under management, FRC and svb were boutique tech bro banks, not some farmers Union Bank servicing a few towns. The entire banking system is so intertwined that the ripple turns into a tsunami in days, which is exactly what happened. JPM aren't thinking ' oh boy I'm gonna get $10b in deposits if FRC collapses', they're thinking ' oh fuck this is snowballing like 2008 and we're long in far, far too many vulnerable positions to get out of it in the positive '.

The banks didn't invest anything in FRC, they deposited $30b, for a year, to stop it fucking collapsing from a cascade of deposit withdrawals.

I've said I'm long on FRC but it's purely a contrary play. This is a bank that had a major liquidity crisis because it lost shit tons of deposits.