By the close of last week, the demise of Silicon Valley Bank had left numerous investors feeling uneasy about how the upcoming weekend would unfold. However, today brought yet another setback, with the announcement that Signature Bank of New York would also be shutting down. Consequently, the Treasury Department, along with the Federal Reserve and FDIC, collaborated to devise an emergency program to provide a safeguard for deposits.
The Feds Come to the Rescue of Two US Banks
The Feds Come to the Rescue of Two US Banks
The Feds Come to the Rescue of Two US Banks
By the close of last week, the demise of Silicon Valley Bank had left numerous investors feeling uneasy about how the upcoming weekend would unfold. However, today brought yet another setback, with the announcement that Signature Bank of New York would also be shutting down. Consequently, the Treasury Department, along with the Federal Reserve and FDIC, collaborated to devise an emergency program to provide a safeguard for deposits.