The tech bank collapse of 2023
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A federal bailout isn’t in the cards for Silicon Valley Bank, but deposits are safe.
Depositors will be paid back in full and can access their money starting Monday morning, officials said. In an interview on Face the Nation, US Treasury Secretary Janet Yellen ruled out a government-backed bailout:
During the financial crisis, there were investors and owners of systemic large banks that were bailed out. And the reforms that have been put in place means that we’re not going to do that again. But we are concerned about depositors and are focused on trying to meet their needs.
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