Published 1 year ago

SVB Depositors Will Get Their Money, But Signature Bank Also Shut Down

Summary by Ground News

Depositors at Silicon Valley Bank will be able to access all their funds Monday. The bank entered receivership on Friday after trading of its parent company, SVB Financial Group (SIVB -60.41%), was halted. Regulators also announced similar protections for customers of Signature Bank (SBNY -22.87%)

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CNN

Video: This is how SVB depositors will get their money back

Treasury Secretary Janet Yellen instructed the Federal Deposit Insurance Corporation to guarantee Silicon Valley Bank customers will have access to all of their money starting Monday. CNN's Arlette Saenz reports.

1 year ago·Atlanta, United States

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Wall Street Journal

SVB, Signature Bank Depositors to Get All Their Money as Fed Moves to Stem Crisis

Regulators take control of a second bank and race to roll out emergency measures

1 year ago·New York, United States

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New York Magazine

How the U.S. Is Trying to Stave Off a Banking System Crisis

The Federal Reserve, FDIC, and Treasury Department took emergency measures to shore up the banking system following the collapse of Silicon Valley Bank, including guaranteeing all deposits at SVB and Signature Bank, which it also closed.

1 year ago·New York, United States

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