Instant view: US intervenes to shore up SVB deposits, limit financial fallout

The U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SIVB.O) (SVB).

March 13, 2023 . 8:50 AM

1 min read

U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SIVB.O) (SVB).
The facilities put in place to allow access to non-insured deposits should help back stop an important growth engine of the economy.
Regional banks were seeing significant stress as markets worried about a knock on.
The market turbulence sparked by SVB has upended rising market expectations on the Fed rate path.
The actions taken by regulators should go a long way to assuaging the important concerns about deposits and customers' ability to meet payroll and other obligations.