- Silicon Valley Bank (SVB) and Signature Bank, New York, will be resolved and all their depositors, insured and uninsured, will be made whole.
- All depositors at SVB will have access to all of their money starting Monday, March 13.
- No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.
- The Federal Reserve announced that it will make liquidity available to other banks facing withdrawals.
- Friday's February jobs report included a consensus-busting 311,000 new jobs, offset by slowing wage growth, and an uptick in unemployment, but one driven by better labour force participation.
SVB was only a little bit insolvent, luckily
This article covers the resolution of Silicon Valley Bank and Signature Bank, US authorities' efforts to quell bank runs, and the February jobs report. All depositors, insured and uninsured, will be made whole.