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"Your deposits will be there when you need them," he said. ACCESS TO DEPOSITS SVB's customers will have access to all their deposits from Monday and regulators set up a new facility to give banks access to emergency funds.
Assurances from Joe Biden and other US policymakers do little to calm markets
SVB's customers were given access to all their deposits on Monday.
Biden's efforts to reassure markets and depositors came after emergency U.S. measures to shore up banks by giving them access to additional funding failed to dispel investor worries about potential contagion to other lenders worldwide. Banking stocks in Asia extended declines on Tuesday, with Japanese firms hit particularly hard as anxiety about systemic risk sparked a wider rout in markets.
By Elaine Lies and John Geddie