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WaPo: U.S. says ‘all’ deposits at failed bank will be available Monday

By Ilene
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U.S. says ‘all’ deposits at failed bank will be available Monday

By Jeff Stein, David J. Lynch, Tony Romm and Tyler Pager, WaPo

Regulators also closed down Signature Bank of New York on Sunday, and said they are extending protection to those depositors.

The Biden administration announced Sunday night that all depositors at the failed Silicon Valley Bank would have access to all their money on Monday morning, approving an extraordinary intervention aimed at averting a crisis in the financial markets.

Authorities said they were also extending protection to depositors of a second bank, Signature Bank of New York, which state regulators closed on Sunday as unease in the financial sector appeared to spread…

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