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92%  
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Keyword: siliconvallybank

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  • Fed and FDIC discussing backstop to make SVB depositors whole and stem contagion fears: Source

    03/12/2023 11:51:28 AM PDT · by marcusmaximus · 49 replies
    CNBC ^ | 3/12/2023 | Kayla Tausche
    Financial regulators are discussing two different facilities to manage the fallout from the closure of Silicon Valley Bank if no buyer materializes, according to a source close to the situation. One way that the regulators would step in would be to create a backstop for uninsured deposits at Silicon Valley Bank, using an authority from the Federal Deposit Insurance Act -snip- Another option would be a “general banking facility” from the Federal Reserve that would support other financials with exposure to SVB.