If you have not seen it yet, you can view the details on the official website of the Federal Reserve right here. The most important part of the plan is the Fed’s decision to fully guarantee all of the deposits at Silicon Valley Bank and Signature Bank. As Goldman Sachs CEO Lloyd Blankfein explained on Twitter, this bold course of action was supposed to have “removed reasons for bank runs”…
A few banks may have issues like SVB, but only a few. Govt actions removed reasons for bank runs. Biggest banks have much tougher regulation and stress testing. Anxiety and volatility high, but sharply lower interest rates, fed likely on hold, are strong positives for markets. @lloydblankfein
