Analysis: Silicon Valley Bank customers will wake up today with access to their money. That may avert turmoil in financial markets today, but scrutiny of the high-stakes weekend drama is likely just beginning in Washington.
Authorities said they were also extending protection to depositors of a second bank,, which state regulators closed on Sunday as unease in the financial sector appeared to spread.
The move comes after an uncertain weekend full of briefings for members of Congress and congressional staff about the collapse of SVB. There will be another briefing for lawmakers this morning. urging him to adhere to the 2018 law and not increase capital requirements — which dictate how much of a buffer banks should hold to guard against losses — for midsize banks.
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