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The collapse of the Silicon Valley bank sent tremors throughout the global financial system.
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The collapse of the Silicon Valley bank sent tremors throughout the global financial system.
President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.
The Federal Reserve has made funds available to other banks in an attempt to prevent another collapse in the financial sector. Alex Wong/Getty Images Hide
President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.
Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.