Federal regulators announced on Sunday that they would ensure that all depositors of Silicon Valley Bank — which failed Friday — were paid back in full as they rushed to contain fallout from the collapse of the large institution.
The Federal Reserve, Treasury and Federal Deposit Insurance Corporation announced in a joint statement that “depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.”
