Treasury, FDIC to brief California lawmakers on SVB collapse

that its branches would reopen Monday, and insured depositors would have "full access to their insured deposits no later than Monday morning."

Those with deposits greater than $250,000, the FDIC's insurance limit, will receive "an advance dividend within the next week," the agency said.The bank's failure on Friday prompted lawmakers to call for the FDIC to address concerns about the impact on SVB customers' personal finances and the financial system as a whole.

"I have heard from scores of constituents who have not received their paychecks because of this crisis, putting their mortgages at risk," Rep. Eric Swalwell said in a statement., "the Silicon Valley Bank collapse will have widespread ramifications for small businesses, start-ups, and nonprofits trying to make payroll — as well as on our broader economy.

No bailouts for billionaires.

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US Treasury's Yellen expressed confidence in regulators after meeting on SVBU.S. Treasury Secretary Janet Yellen met with banking regulators on Friday to discuss the collapse of SVB Financial Group and expressed 'full confidence' in their abilities to respond to the situation and that the U.S. banking system remains resilient, the Treasury Department said. Ooo we're Aces Now Ms. Yellen’s shaky voice and trembling mannerisms do not foster confidence. 🤣🤣🤣
Source: Reuters - 🏆 2. / 97 Read more »