Executive Branch

Government Steps In With Plan to Protect All Deposits at Silicon Valley Bank

Government Steps In With Plan to Protect All Deposits at Silicon Valley Bank
U.S. Treasury Secretary Janet Yellen speaks during a news conference as G20 finance leaders gathered on the outskirts of Bengaluru, India, on Feb. 23, 2023. Samuel Rajkumar/Reuters
Emel Akan
Emel Akan
Reporter
|Updated:
0:00

Banking regulators announced an emergency measure on Sunday to fully protect deposits at Silicon Valley Bank, a critical move in averting a panic over the bank’s collapse.

U.S. Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) have revealed the plan in a joint statement.

Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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