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Post by sevenofnine on Mar 12, 2023 15:02:46 GMT -5
They got do somethng right now in few hrs Asia going open It is 1pm pst here in SO CAL so almost beginning of their business day in Asia on Monday An additional step would be a “general banking facility” from the Federal Reserve that would support other financials with direct exposure to SVB. The Federal Deposit Insurance Corp. headquarters in Washington, D.C. The Federal Deposit Insurance Corp. headquarters in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images Financial regulators are discussing two different facilities to manage the fallout from the closure of Silicon Valley Bank if no buyer materializes, according to a source close to the situation. One way that the regulators would step in would be to create a backstop for uninsured deposits at Silicon Valley Bank, using an authority from the Federal Deposit Insurance Act, according to the source. The move would also touch the systemic risk exception that allows the Fed to take extraordinary action to stem contagion fears. Such a move could spur confidence at similar regional banks and institutions ahead of Monday, when they open and customers can withdraw from their accounts. An additional step would be a “ge www.cnbc.com/2023/03/12/fed-fdic-discussing-backstop-to-make-svb-depositors-whole-and-stem-contagion-fears-source.html
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