U.S. Treasury, FDIC And Federal Reserve Will Guarantee All Deposits At SVB, Signature Bank In Unprecedented Move

U.S. Treasury, FDIC And Federal Reserve Will Guarantee All Deposits At SVB, Signature Bank In Unprecedented Move
фото показано с : bitcoinmagazine.com

2023-3-13 04:59

A joint statement ensured that all customer deposits at the respective banks will be honored by the federal government.

The U.S. Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) announced on Sunday that they would take "decisive actions" to strengthen public confidence in the U.S. banking system. This decision came after the FDIC and Federal Reserve recommended Silicon Valley Bank and Signature Bank be placed under systemic risk exceptions. The move would allow the FDIC to resolve Silicon Valley Bank, based out of Santa Clara, California, in a manner that “fully protects” depositors’ money and ensures their access to credit. The same would apply to Signature Bank, based out of New York, New York, which was closed today by its state chartering authority.

In the joint statement, Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg said, "This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth."

The senior management of both banks has been removed, and shareholders and certain unsecured debtholders will not be protected. However, depositors will have access to all of their money starting on March 13, and no losses will be borne by taxpayers. Any losses incurred to support uninsured depositors will be recovered by a special assessment on banks, as required by law.

The Federal Reserve Board also announced on Sunday that it would make additional funding available to eligible depository institutions to ensure banks have the ability to meet the needs of all their depositors. "The U.S. banking system remains resilient and on a solid foundation," the statement said. "Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe."

The "decisive actions" to protect depositors' savings is a welcome move; but also a showcase example of why Bitcoin was created. The “Chancellor on the Brink” message included within the genesis block was an express comment by Satoshi Nakamoto on their inspiration for the technology. We now see a new iteration of this inevitable consequence of fiat currency systems: and so a new point of evidence for why Bitcoin exists. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Allion (ALL) на Currencies.ru

$ 0.0002904 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0002904 - H: $0.0002904
Капитализация $1.8k Rank 99999
Доступно / Всего 6.199m ALL

deposits all federal customer government ensured respective

deposits all → Результатов: 126


Join the Phemex Deposit Dazzle & Claim $5,000 just for Deposits!

Phemex, a Singapore-based cryptocurrency exchange, seems to be attracting all of the industry’s attention. They’re bringing back the popular Deposit Dazzle event and rewarding all active traders with a new Bitcoin and USD bonus! With the Phemex Deposit Dazzle, users just need to deposit BTC or USDT and claim up to a $5,000 bonus in BTC and USD! The best aspect of this event is that it is very simple to join and anyone may meet the deposit criteria.

2022-9-7 09:31


VCC Exchange Review – Fees, Supported Countries & Coins, Deposits & Withdrawals

VCC Exchange Overview The Crypto market is on the bull run now! The fact that the market passed $3 trillion in value made all crypto players more satisfied. There is no doubt that more and more people are entering the market and most of them face a vital decision – what type of exchange is […] The post VCC Exchange Review – Fees, Supported Countries & Coins, Deposits & Withdrawals appeared first on CaptainAltcoin.

2021-12-21 16:02


Фото:

AAX, The First Exchange to Enable wETH Deposits, Offers Up to 60% APY on Savings

Crypto exchanges nowadays offer a wide range of services. However, reaping all of the benefits out of the crypto sector is a challenge that has only been achieved by a handful of crypto platforms. The emergence of new blockchains and cryptocurrencies provides the crypto sector with a much-needed push into mass adoption. Currently, thanks to […]

2021-12-10 15:01


Биткоин-биржа FTX запустила функцию минтинга NFT

Основатель и глава криптовалютной биржи FTX Сэм Бэнкман-Фрид сообщил о добавлении новой функции выпуска невзаимозаменяемых токенов (NFT) на основной и американской платформах. All NFTs will be cross-chain ETH/SOL! Deposits/withdrawals opening up in the next couple weeks.

2021-9-6 12:12


Bitstamp закрыла торговлю XRP пользователям из США. Цена токена возобновила падение

Старейшая европейская криптобиржа Bitstamp закроет для американских пользователей возможность торговли токеном XRP. In light of the SEC's recent filing alleging XRP is a security, we are going to halt XRP trading and deposits for all US customers on January 8, 2021.

2020-12-27 20:48


Bitcasino Enables TronLink Browser Extension To Bring Users Secure Deposits and Withdrawals

Leading bitcoin betting site Bitcasino has announced that it has added the TronLink browser extension to enable fast, and secure transactions, for all TRON users.  24 March 2020, Tallinn, Estonia – The world’s first licensed Bitcoin-led casino operator, Bitcasino, has integrated the TronLink browser extension, giving its players the option to seamlessly deposit and withdraw […] The post Bitcasino Enables TronLink Browser Extension To Bring Users Secure Deposits and Withdrawals appeared first on NullTX.

2020-3-25 10:50


Фото:

Bitcasino Enables TronLink Browser Extension To Bring Users Secure Deposits and Withdrawals

Bitcoin Press Release: Leading bitcoin betting site Bitcasino has announced that it has added the TronLink browser extension to enable fast, and secure transactions, for all TRON users. 24 March 2020, Tallinn, Estonia – The world’s first licensed Bitcoin-led casino operator, Bitcasino, has integrated the TronLink browser extension, giving its players the option to seamlessly […] The post Bitcasino Enables TronLink Browser Extension To Bring Users Secure Deposits and Withdrawals appeared first on Bitcoin PR Buzz.

2020-3-25 20:54