The Federal Reserve announced a new emergency plan, allowing depositors of Silicon Valley Bank to access all their funds on Monday

ChainCatcher news, the Federal Reserve announced a new emergency bank term funding program, and Silicon Valley Bank depositors will have access to all their funds on Monday. The Federal Reserve stated that it is prepared to address any potential liquidity pressures, and the new program will provide emergency loans for up to one year, with taxpayers not bearing any losses related to the Silicon Valley Bank resolution. (Jin10)