As has been widely reported, the US Federal Deposit Insurance Corporation (FDIC) was appointed as receiver to Silicon Valley Bank, Santa Clara (SVB) on 10th March and the receiver to Signature Bank, New York on 12th March.
We confirm that no entity in Bruc Bond has any direct or indirect exposure to Silicon Valley Bank or Signature Bank or other banks currently caught-up in similar news. This means that we do not hold bank accounts or any form of relationship with any of these banks.
As a regulated non-bank entity, we safeguard client money in designated bank accounts held at high quality global financial institutions. Additionally, funds held for our clients cannot be used for any other purpose and are maintained as liquid cash assets only. Therefore, the funds you hold with us continue to be secure, safeguarded, and available for use.
We recognise that some clients may have an exposure, and we are doing what we can to protect all such impacted clients. Specifically, Bruc Bond is taking the following steps:
- All such payments, will be subjected to enhanced checks, which may introduce delays in these specific instances only.
If you have any questions on any of the above, please reach out to your Client Success Manager, or write to firstname.lastname@example.org