Silicon Valley Bank’s depositors will be fully protected, according to the Federal Reserve

The Federal Reserve issued a joint pair of statments on Sunday with one clear message: Silicon Valley Bank’s depositors, both insured and insured, will receive help in a manner that will “fully protect” all. Depositors, the statement reads, “will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
The move comes after recommendation from boards of the Federal Reserve and the Federal Deposit Insurance, and a consultation with the President, Treasury Secretary Ja

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