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13-03-2023, 09:27 PM
Silicon Valley Bank: Money in failed bank is safe, US government says
US authorities took emergency measures on Sunday to shore up the banking system after Silicon Valley Bank (SVB) and Signature Bank collapsed.
People and businesses who have money deposited with SVB would be able to access all their cash from Monday, the government said.
Regulators also closed New York-based Signature Bank after mounting pressure.
President Joe Biden will address the dramatic weekend in the financial sector later on Monday.
In a statement, he promised to hold "those responsible for this mess fully accountable". read more
https://www.bbc.com/news/world-us-canada-64935170
US authorities took emergency measures on Sunday to shore up the banking system after Silicon Valley Bank (SVB) and Signature Bank collapsed.
People and businesses who have money deposited with SVB would be able to access all their cash from Monday, the government said.
Regulators also closed New York-based Signature Bank after mounting pressure.
President Joe Biden will address the dramatic weekend in the financial sector later on Monday.
In a statement, he promised to hold "those responsible for this mess fully accountable". read more
https://www.bbc.com/news/world-us-canada-64935170
