Event
Resolution of Silicon Valley Bank and Signature Bank, 2023
On 12 March 2023 the Treasury, the Federal Reserve and the FDIC announced a systemic risk exception: all depositors of both banks would be made whole, with losses to the deposit insurance fund recovered by an assessment on banks.
- Dates
- 12 Mar 2023
- Too Big to Fail20 scenes
- How are Resolution of Silicon Valley Bank and Signature Bank, 2023 and … connected?
On 12 March 2023 the Treasury, the Federal Reserve and the FDIC announced a systemic risk exception: all depositors of both banks would be made whole, with losses to the deposit insurance fund recovered by an assessment on banks.
Connections 3
involved
- Silicon Valley Bank resolved by the FDIC, all depositors protected Primary record 1
- Federal Deposit Insurance Corporation completed the resolutions Primary record 1
- Federal Reserve announced additional funding for banks Primary record 1
Timeline 1 date
- 12 Mar 2023 Resolution of Silicon Valley Bank and Signature Bank, 2023
Proof 1 source
-
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC, Federal Reserve, 12 Mar 2023.
Primary record
approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors.
Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions
Page history 3 changes
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- Revise Too Big to Fail after the skeptic's review: read to 2 November 2026, a verdict card that separates findings from shares, the 1929 fight with its scandal and the board's stand, and sources for every cardc819f2cb
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