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US says SVB depositors will have access to all money today
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US FEDERAL RESERVE AND TREASURY: WE ARE TAKING DECISIVE STEPS TO PROTECT THE US ECONOMY BY INCREASING PUBLIC TRUST IN OUR BANKING SYSTEM.
— Breaking Market News (@financialjuice) March 12, 2023
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Federal Reserve Board announces it will make available additional funding to eligible depository institutions
To support American businesses and households, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy. The Federal Reserve is prepared to address any liquidity pressures that may arise. The financing will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in ... (full story)
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US Federal Reserve: Ready To Address Any Liquidity Pressures That May Arise
— LiveSquawk (@LiveSquawk) March 12, 2023
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