Photo: Silicon Valley Bank headquarters in Santa Clara, California, on March 9, 2023. Silicon Valley Bank headquarters in Santa Clara, California, on March 9, 2023.

U.S. authorities took extraordinary measures to shore up confidence in the financial system after the collapse of Silicon Valley Bank (SVB), introducing a new backstop for banks that Federal Reserve officials said was big enough to protect the entire nation's deposits.

The Sunday announcement by the Treasury Department, Federal Reserve, and Federal Deposit Insurance Corp. (FDIC) followed a frantic weekend that saw the surprise closure of New York's Signature Bank, along with mounting concerns about spillover effects to other regional lenders and the wider economy.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

News