“Today, we are taking decisive action to protect the U.S. economy by strengthening public confidence in our banking system,” the statement read. “This move will ensure that the U.S. banking system continues to fulfill its vital role of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.”
Yellen previously ruled out a rescue of the bank. In an interview with CBS, she said that the US government wants to ensure that other healthy banks are not affected by the problems. But SVB does not have to count on government money. “During the financial crisis (of 2008), investors in large systemic banks were bailed out by the US government. We will not do that again.”
