Published 1 year ago

Treasury says it will back Silicon Valley Bank deposits

Summary by Ground News

The U.S. Treasury on Sunday announced it would back Silicon Valley Bank deposits beyond the federally insured ceiling of $250,000.

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Times of India

US government moves to stop potential banking crisis

The announcement came amid fears that the factors that caused the Santa Clara, California-based bank to fail could spread, and only hours before trading began in Asia. Regulators had worked all weekend to try and come up with a buyer for the bank, which was the second largest bank failure in history.

1 year ago·India

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BBC News

Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

US authorities have stepped in to protect customers after the collapse of two American banks.

1 year ago·United Kingdom

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News18 India

Silicon Valley Bank Collapse: US Government Moves to Stop Potential Banking Crisis

The US government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank. The announcement came amid fears that this failure could spread.

1 year ago·India

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The Hindu

Silicon Valley Bank depositors will have access to their money starting Monday: Treasury Secretary

‘No losses associated with the resolution of the Silicon Valley Bank (SVB) will be borne by the taxpayer,’ says the Dept.

1 year ago·India

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CTV News

U.S. government: Silicon Valley Bank clients will get funds

The U.S. government took emergency steps Sunday in an attempt to prevent more instability among banks after the historic failure of Silicon Valley Bank, and assured clients of the failed financial institution that they would be able to recover all of their money quickly.

1 year ago·Canada

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Reuters

After SVB failure, US acts to shore up banking system confidence

U.S. authorities launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank threatened to trigger a broader financial crisis.

1 year ago·United Kingdom

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