WASHINGTON (EEUU).- He Treasury Department has ordered this Sunday the Federal Deposit Insurance Corporation (FDIC) to guarantee the funds of the Silicon Valley Bank, They will be able to access from Monday.
The objective is to “guarantee public confidence in the United States banking system,” stressed the US Treasury Secretary, Janet Yellen, In a joint statement also signed by the FDIC Chairman, Martin J. Gruenberg, and Federal Reserve Chairman Jerome Powell.
He Silicon Valley Bank (SVB), financial entity with an important client portfolio among technological ‘startups’, was finally intervened by the FDIC last Friday due to doubts regarding its liquidity and solvency.
Federal authorities have been working over the weekend on possible formulas to guarantee client funds, mainly by lobbying for another entity to acquire the bank. This Sunday the auction to bid for the entity was opened, according to CNN, but finally the solution has not come from the private sector.
As of December 31, 2022, the SVB had “approximately” 209 billion dollars (196.192 million euros) in assets and “around” 175.4 billion dollars (164.651 million euros) in deposits, according to the FDIC.
