On Sunday, March 12, 2023, the Treasury Department, the Federal Reserve, and the FDIC issued a joint statement indicating that there has been an agreement to roll out emergency measures to protect depositors at SVB. The statement indicates that depositors will have access to all of their money starting Monday, March 13, 2023.
Foley Hoag is continuing to monitor this development and what this means for customers with accounts at SVB.
