Tag: bank
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Silicon Valley Bank collapsed – caused by bank run and rising interest rate
FDIC will fully protect all depositors in Silicon Valley Bank. Secretary of Treasury Janel Yello, Federal Reserve Board Chair Jerome Powell and FDIC Chairman Martin Gruenberg released a joint statement in support of Silicon Valley Bank customers on March 12, 2023. https://home.treasury.gov/news/press-releases/jy1337 They made the move to restore confidence in the banking system and avoid…