The Biden administration announced Sunday night that all depositors at the failed Silicon Valley Bank would have access to all their money on Monday morning, approving an extraordinary intervention aimed at averting a crisis in the financial system.
Democracy Dies in Darkness
U.S. says all deposits at failed bank will be available Monday
Regulators also closed down Signature Bank of New York on Sunday, and said they are extending protection to those depositors
By Jeff Stein
, and
Updated March 12, 2023 at 11:26 p.m. EDT|Published March 12, 2023 at 2:29 p.m. EDT