US Officials Weigh Protecting All Deposits at Silicon Valley Bank
US Officials Weigh Protecting All Deposits at Silicon Valley Bank
US authorities are considering safeguarding all uninsured deposits at Silicon Valley Bank SVIB.O, weighing an intervention to prevent what they fear would be a panic in the US financial system, the Washington Post reported on Sunday, citing three people with knowledge of the matter.
Officials at the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation discussed the idea this weekend, the report said.
Source: Jerusalem Post
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