Search the Community
Showing results for tags 'bailout'.
Found 1 result
"In a joint statement Sunday, Treasury Secretary Janet Yellen, Federal Reserve Chair Jerome Powell and Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg said the FDIC will make SVB and Signature’s customers whole. By guaranteeing all deposits – even the uninsured money that customers kept with the failed banks – the government aimed to prevent more bank runs and to help companies that deposited large sums with the banks to continue to make payroll and fund their operations. The Fed will also make additional funding available for eligible financial institutions to prevent runs on similar banks in the future." https://www.cnn.com/2023/03/12/investing/svb-customer-bailout/index.html