Federal Agencies Release Joint Statement Mapping Out Approach To Silicon Valley Bank Collapse

1 year ago

Federal Agencies Release Joint Statement Mapping Out Approach To Silicon Valley Bank Collapse

Depositors of the Silicon Valley Bank will have access to all of their money – following the bank’s failure on Friday – at no loss to American taxpayers. Treasury Secretary Janet L. Yellen had approved actions enabling the FDIC to complete its resolution of SVB "in a manner that fully protects depositors" The taxpayer will bear no losses associated with the resolution.

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