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Federal Reserve Board Chair Jerome H. Powell
Federal Reserve headquarters in Washington, D.C. [Photo: Veni/istockphoto]
Feds To ‘Fully Protect’ All SVB and Signature Bank Depositors, Easing Pressure on Rattled Startup and Tech Leaders
by David Seeley | Mar 13, 2023
Sunday's announcement that all Silicon Valley Bank and Signature Bank depositors would be "fully protected" may have helped startup and tech leaders breathe a little easier at SXSW in Austin, in North Texas, and beyond. While concerns continue, the U.S. Treasury, the Federal Reserve, and the FDIC said Sunday that "the U.S. banking system remains resilient and on a solid foundation."
