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Silicon Valley Bank, Signature Bank collapse. Could more banks follow? | JUST THE FAQS 1 год назад


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Silicon Valley Bank, Signature Bank collapse. Could more banks follow? | JUST THE FAQS

How is the government responding to the Silicon Valley Bank failure? Here's what we know. RELATED: Biden on Silicon Valley Bank collapse: 'That's how capitalism works' https://bit.ly/3mTPO0l It's been a tumultuous few days for banks since the now-shuttered Silicon Valley Bank announced Wednesday it had suffered a $1.8 billion after-tax loss and urgently needed to raise more capital to quell depositors' concerns. By Friday, SVB's chances of getting access to more funding appeared paper thin. That led the Federal Deposit Insurance Corporation to take over the bank after failed attempts to sell it to healthier banks. The FDIC announced Friday afternoon that customers who had up to $250,000 per account deposited with SVB, which was the nation's 16th-largest bank, would have access to their funds by Monday morning. But it wasn't known at the time what would happen to deposits that exceeded $250,000, the limit the FDIC insures in the event of a bank failure. » Subscribe to USA TODAY: http://bit.ly/1xa3XAh » Watch more on this and other topics from USA TODAY: https://bit.ly/3QYKjbc » USA TODAY delivers current local and national news, sports, entertainment, finance, technology, and more through award-winning journalism, photos, videos and VR. #siliconvalley #banking

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