The collapse of Silicon Valley Bank has investors worried – understand your rights
Some retirement savers may be fretting after the dissolution of Silicon Valley Bank and Signature Bank over the last few days — not only is the market reacting to the news, which likely is affecting their 401 balances, but they may be worried their cash savings are also no longer safe.
The federal government has come to the rescue of depositors at the two banks. In a letter to the public, Treasury Secretary Janet Yellen, along with Federal Reserve Board Chair Jerome Powell and FDIC Chairman Martin Gruenberg said savers at Silicon Valley Bank would have access to their money beginning Monday, and that depositors of Signature Bank would be made whole as well.
Still, a bank closing can be concerning — for personal bank accounts, for retirement investment accounts tied to the markets and for the economy as a whole.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
How Silicon Valley Turned on Silicon Valley BankThe fallout from Silicon Valley Bank threatens to engulf Silicon Valley—and has put the rest of the banking system on edge
Consulte Mais informação »
Analysis: Silicon Valley Bank's fall widens systemic cracks as cheap money vanishesCracks are appearing in the global financial system as the decade-long era of cheap money ends, with some investors worrying the shock collapse of Silicon Valley Bank signals world markets may be on the cusp of a reckoning.
Consulte Mais informação »
Silicon Valley Bank depositors may get some of their uninsured money back Monday: ReportRegulators dealing with the Silicon Valley Bank's collapse are reportedly planning to give depositors access to 30% to 50% of their uninsured deposits Monday.
Consulte Mais informação »
Silicon Valley Bank depositors will get 'all of their money,' regulators sayU.S. financial regulators on Sunday said Silicon Valley Bank customers would have access to all their money on Monday, days after the bank failed.
Consulte Mais informação »
Yellen rules out bailout for Silicon Valley Bank: 'We're not going to do that again'The collapse of Silicon Valley Bank is the largest of a financial institution since the failure of Washington Mutual in 2008.
Consulte Mais informação »