Bank failure response - Saudi-Iran normalization deal - 2023 Oscar winners

Source: Bloomberg

1. Summary
   Last Friday Silicon Valley Bank, a major lender among tech start-ups, became the largest bank to collapse since the 2008 financial crisis. Following that, New York's Signature Bank was closed as it showed signs of failure. On Sunday federal regulators said they had resolved to guarantee all borrowers for both banks access to their deposits.
   
   The Biden administration said depositors would be able to access their funds even past the $250,000 usually insured by the Federal Deposit Insurance Corporation. About 89% of the bank's deposits are not covered by the FDIC. Officials said taxpayers would not bear the costs, as the Deposit Insurance Fund has sufficient funds, and insisted that there would not be a bailout of the bank.
   
   It remains unclear how long it will take before some bigger clients will be able to fully access their deposits. Experts told the Associated Press they do not expect the failure to spread to the overall banking system, and that the issue appears limited to the tech sector.

   Highly-rated - last 48 hrs
   After SVB failure, US guarantees all deposits to stem fallout.
   Reuters (Center) • Factual Grade 80% • 4 min read
   

1. Different political viewpoint
   A major bank failed. Here’s why it’s not 2008 again.
   Associated Press (Moderate Left) • Factual Grade 72% • 4 min read

1. Selected long-read
   "Bloodbath" may not be descriptive enough for Silicon Valley Bank failure.
   Hot Air (Right) • Factual Grade 73% • 14 min read

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