The Fed and Treasury already working back channels to facilitate quick receivership and purchase transactions much like First Republic and JPM.

Translation… hundred of banks insolvent and will tank…

They are using a back channel to quickly absorb the transition.

JPM, WF, BoA looking to use existing customers funds in coordination with the FDIC to refill insurance fund as they low bid allocate the insolvent regionals.

I expect after they are done centralizing we will see a FED reversal.

Just my opinion.