Since March 9, global finance and its beneficiaries have been following the latest developments related to the bankruptcy of Silicon Valley Bank (SVB) hour by hour, including the control was taken over by the Federal Deposit Insurance Corporation (FIDC), the US deposit insurance authority. The quarantine institution fell in 48 hours. Panicked following SVB’s announcements regarding a necessary capital increase following a loss of 1.8 billion dollars, many customers made massive withdrawals which caused on failure.
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To contain the haemorrhage, the American authorities, through the voice of the United States Federal Reserve and the Treasury Department, decided to guarantee deposits in this bank, even beyond the legal limit of 250,000 dollars (regarding 235,000 euros). “Since the US Treasury has decided to guarantee 100 % of the
