BREAKING: Treasury, Federal Reserve, FDIC release joint statement mapping out approach to Silicon Valley Bank collapse
Former Obama economic adviser and former CEO of UBS Robert Wolf breaks down the historic collapse of Silicon Valley Bank and the economic fallout that has followed on ‘Fox & Friends Weekend.’
Depositors of the Silicon Valley Bank will have access to all of their money – following the bank’s failure on Friday – at no loss to , the Treasury Department, Federal Reserve, and the Federal Deposit Insurance Corporation said in a joint statement Sunday.by strengthening public confidence in our banking system," the joint statement read. "This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.
FILE: A worker tells people that the Silicon Valley Bank headquarters is closed on March 10, 2023 in Santa Clara, California.
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