And done, Federal Reserve announces emergency lending facility – deposits “guaranteed”


more to come

Federal Reserve and Treasury:

  • taking decisive actions to protect the u.s. economy by strengthening
    publicconfidence in our banking system
  • boards of the fdic
    and the federal reserve, andconsulting with the president, secretary
    yellen approved actions enabling the fdic to complete itsresolution
    of silicon valley bank
  • no losses associated
    with the resolution of silicon valley bank will be borne by the
  • we are also
    announcing a similar systemic risk exception for signature bank,
    newyork, which was closed today by its state chartering authority
  • all depositors of
    this institution will be made whole

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