Administration guarantees all Silicon Valley Bank deposits in a bid to head off a banking crisis
“They do have the tools to handle the current situation, they do know the seriousness of this and they are working to try to come forward with some announcement before the markets open,” House Speaker Kevin McCarthy told Fox News’ “Sunday Morning Futures” program.“I think that would be the best outcome to move forward and cool the markets and let people understand that we can move forward in the right manner,” he said.
“First, the principle needs to be that all depositors will be protected and have full access to their accounts Monday morning,” Rep. Ro Khanna, California Democrat, told “Face the Nation.”
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