Federal Agencies Release Joint Statement Mapping Out Approach To Silicon Valley Bank Collapse

Federal Agencies Release Joint Statement Mapping Out Approach To Silicon Valley Bank Collapse

Depositors of the Silicon Valley Bank will have access to all of their money – following the bank’s failure on Friday – at no loss to American taxpayers. Treasury Secretary Janet L. Yellen had approved actions enabling the FDIC to complete its resolution of SVB "in a manner that fully protects depositors" The taxpayer will bear no losses associated with the resolution.