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In a surprising and ground-breaking Joint Statement issued late Sunday afternoon, March 12, 2023, the U.S. Department of the Treasury (Treasury), the Board of Governors. ....
Since the sudden collapse of Silicon Valley Bank on March 10, unstable deposit funding has roiled the banking industry. Ideas on how to reestablish confidence include providing a temporary guarantee for all deposits, raising the deposit insurance limit and reviving an expired program that helped quell market panic in 2008. ....
Beginning last week and continuing over this past weekend, there were several key developments from federal regulators related to failure of Silicon Valley Bank SVB, Signature Bank, broader issues of FDIC deposit insurance protections and current bank liquidity challenges. ....