Discussions held to protect deposits if more banks fail - report

Discussions held to protect deposits if more banks fail - report --Silicon Valley Bank's collapse is the largest bank failure since the 2008 financial crisis | 12 March 2023 | Talks are being held should the collapse of Silicon Valley Bank spread further into financial markets and threaten more banks. The Federal Deposit Insurance Corp. and the Federal Reserve have discussed ways to protect depositors by creating a special vehicle, according to Bloomberg. Specifically, they are weighing creating a fund that would allow regulators to backstop more deposits at banks that run into trouble. Regulators held discussions with banking executives in hopes of reassuring customers and preventing a potential panic, according to people familiar with the matter.