[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-301136-105":53,"doc-detail-301136-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","matts-minutes-march-2023-closed-captions","Matt’s Minutes - March 2023 - Closed Captions","","Matt Curfman, CEO and co-owner of Richmond Brothers, summarizes March 2023 economic and banking developments that influenced markets, including Federal Reserve comments on inflation, the SVB collapse and its FDIC/Treasury backstops, and the resulting uncertainty for depositors versus investors. He advises monitoring FDIC/NCUA limits and reviewing portfolio risk scores. He also explains how higher short-term rates may lift yields on short-duration bond funds, money market funds, and CDs, and notes upcoming client events and outreach.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/matts-minutes-march-2023-closed-captions/301136/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/matts-minutes-march-2023-closed-captions/301136.png","ImageObject",442,249,{"name":88,"@type":89},"Paura","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-21","2026-09-19",true,{"@type":98,"interactionType":99,"userInteractionCount":9},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What key events in March 2023 affected the market and overall economic conditions?","Question",{"text":108,"@type":109},"The Federal Reserve signaled it was not done battling inflation, and mid-March included the collapse of SVB Bank in California. These developments increased fear, uncertainty, and ripple effects in banking-related markets.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How does FDIC backstopping relate to deposit protection during the SVB failure?",{"text":113,"@type":109},"The FDIC and Treasury backstopped deposits, including amounts larger than the $250,000 FDIC insurance limit. Depositors were protected, while investors holding stock or bonds could be harmed.",{"name":115,"@type":106,"acceptedAnswer":116},"What practical guidance is given for consumers and investors regarding risk and deposits?",{"text":117,"@type":109},"Pay attention to FDIC limits (and NCUA limits for credit unions) and review your portfolio risk scores. The message also highlights that rising short-term rates can increase gross yields on short-duration bond funds, money market funds, and CDs.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},301136,1790024607,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":73,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":76,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":9},13056712833777,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Matt’s Minutes: March 2023 “Closed Captions”  \nWatch the video online [at: ](at: www.richmondbrothers.com)[www.richmondbrothers.com](at: www.richmondbrothers.com)  \nHi everyone, this is Matt Curfman, CEO and Co-Owner of Richmond Brothers and this is Matt’s Minutes for March of 2023. Thank you so much for tuning in. Well, there has been a lot of commotion economically, globally, and inside of the US in March. And so, a couple of the key things that are causing ups and downs in just the overall market and economic conditions, first and foremost, we started the month off with the Federal Reserve commenting that they were not done battling inflation yet. Everyone widely believed that meant they were going to continue to possibly aggressively go after raising that short-term rate. That caused a lot of fear and uncertainty.  \nAs the weeks went by in March, what eventually happened in mid-March was the collapse of SVB Bank out in California, and that was a little bit of a scary time and it kind of took many of us back to that time in the fall of 2008 in the middle of the global financial crisis, and all of the concern and uncertainty back then. This appears to be a little more concentrated and it certainly does have some ripple effects. It sounds like another bank, First Republic Bank, was another very highlighted regional bank that the ripple effects of this played out with.  \nSo first, that Sunday the FDIC Insurance came out and the Treasury came out, and they backstopped all deposits. So deposits mean you had a checking, savings, for example at that bank. And they actually backstopped deposits larger than the $250,000 FDIC Insurance limits, so that should help continue to add some peace of mind. That is certainly not expected, however SVB was a publically traded bank, so they had stock. So, if you were a stock holder or a bond holder, once the FDIC came in and took over the bank, all of your investment assets would have been completely worthless, just totally void. So, depositors were not harmed. If you were an investor, you very much were harmed in that circumstance.  \nIt appears that because of the inverted yield curve, which means short-term rates are as high or higher than sometimes longer term rates, it’s caused a little bit of a chaotic situation there. As that unfolded eventually in March the Federal Reserve met again and they did come out and they did raise the shortterm rate, but they raised it by .25%, which is kind of, we feel like, a balancing act on the fence, so to speak. Had it not been for the bank failures, it’s probable they would have raised that short-term rate more. But also we need some financial stability and public concern about the banking system is really, really important.  \nThose are really big things and everyone is wondering is there a banking crisis? Should I be concerned? So, with bank accounts or credit unions, pay attention to FDIC limits. In a credit union it’s the NCUA, National Credit Union Administration limits. They mirror the FDIC limits, but just check with your local banks and credit unions to make sure. Generally speaking, the limit you will find is $250,000 and there’s  \na way that you can do that per person, between accounts, spouses, but just make sure you check those out if you have concern.  \nAs far as portfolio’s go, always really, really important we continue to review your risk scores. We’ve hada large increasing group of clients that have a lot of interest inside of the smoother ride strategies. Many of you have watched the five video series that I have put out over the last 4, 5, 6 months up through the first quarter of this year. The whole theory and thesis behind the smoother ride is to really say, look we want a different strategy with our liquid stocks and bonds and funds to have some downside protectors inside of there. For example, during the week of the banking crisis a financial sector fund we actually ended up getting out of because it owned a lot of banks and that fina","cbCaivxqtAlbKAF7","https://ap.wps.com/l/cbCaivxqtAlbKAF7","pdf",381206,"English","# March 2023 Economic Update\n## SVB Failure and FDIC Backstops\n## Interest Rates and Market Effects\n## Guidance on Deposits and Portfolio Risk\n## Yield Changes and Upcoming Events","[{\"question\":\"What key events in March 2023 affected the market and overall economic conditions?\",\"answer\":\"The Federal Reserve signaled it was not done battling inflation, and mid-March included the collapse of SVB Bank in California. These developments increased fear, uncertainty, and ripple effects in banking-related markets.\"},{\"question\":\"How does FDIC backstopping relate to deposit protection during the SVB failure?\",\"answer\":\"The FDIC and Treasury backstopped deposits, including amounts larger than the $250,000 FDIC insurance limit. Depositors were protected, while investors holding stock or bonds could be harmed.\"},{\"question\":\"What practical guidance is given for consumers and investors regarding risk and deposits?\",\"answer\":\"Pay attention to FDIC limits (and NCUA limits for credit unions) and review your portfolio risk scores. The message also highlights that rising short-term rates can increase gross yields on short-duration bond funds, money market funds, and CDs.\"}]","Matt’s Minutes - March 2023 - Closed Captions | PDF",1789779464]