The Fed and the Federal Deposit Insurance Corporation are considering a plan to create a special fund that would allow regulators to guarantee deposits at troubled banks
The Democratic senator Robert Menendezwho is also a member of the Senate Banking Committee, made it clear on Sunday that he will not support a possible federal government bailout of Silicon Valley Bank (SVB).
“I’m not ready to offer them a financial bailout in any dimension I can imagine”, Menendez said on NBC’s “Meet the Press.”
The U.S. central bank and the Federal Deposit Insurance Corporation are considering a plan to create a special fund that would allow regulators to guarantee deposits at troubled banks, following the unexpected bankruptcy of Silicon Valley Bank, the news agency reported. Bloomberg yesterday Saturday.
The new special safety mechanism has been discussed by Fed and FDIC officials with bank executives, and it is hoped that its creation will reassure savers and investors and limit the risk of a banking panic, according to the agency, which cited people with knowledge of the talks.
Source: Skai
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.
