The Federal Deposit Insurance Corp said its withdrawal of a record $40 billion in U.S. Treasury Funds on Friday as it seized control of Silicon Valley Bank will not affect when the Treasury runs out of operating room under the debt ceiling.
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The Treasury has never issued a specific forecast for the X-date. U.S. Treasury Secretary Janet Yellen in January
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Treasury, Federal Reserve, FDIC release joint statement mapping out approach to Silicon Valley Bank collapseTreasury Department, Federal Reserve, and the FDIC issued a joint statement Sunday mapping out how regulators will handle the failure of Silicon Valley Bank.
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Treasury, Fed and FDIC joint statement on SVB and Signature Bank: full text'All depositors of this institution will be made whole ... no losses will be borne by the taxpayer': Read Sunday's full statement from the Treasury, Federal Reserve and Federal Deposit Insurance Corp.
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Fed, FDIC, Treasury Department say Silicon Valley Bank clients will get fundsSome feared that if Washington didn't rescue the failed bank, customers would make runs on other banks.
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Fed, Treasury, and FDIC Announce Actions to Backstop Banks After Silicon Valley MeltdownThe U.S. government on Sunday sought to affirm confidence in the U.S. banking system by announcing protection for all depositors in Silicon Valley Bank. | Economy
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Some bank shares plunge, despite efforts to stem crisisAll SVB depositors — even the roughly 90% held in accounts above the Federal Deposit Insurance Corporation's $250,000 limit on insurance — will have access to their money this morning.
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No federal bailout for collapsed Silicon Valley Bank: Treasury Secretary YellenTreasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about their money.
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