Amid the Silicon Valley bank crisis, American authorities will ‘fully’ protect depositors

US financial authorities unveiled a rescue strategy on Sunday that will guarantee that all depositors at the bankrupt Silicon Valley Bank will be able to ‘completely’ return their money without incurring any costs on the part of American taxpayers.

Following days of frantic efforts to prevent a wider financial ripple effect with other institutions, the US Treasury, the Federal Deposit Insurance Corporation, and the US Federal Reserve jointly announced that ‘depositors will have access to all of their money starting Monday, March 13’.