Thu. Sep 19th, 2024
Occasional Digest - a story for you

Members of California’s congressional delegation are set to be briefed Saturday afternoon by officials from the Federal Deposit Insurance Corporation amid jitters about the downfall of the Silicon Valley Bank, according to two people familiar with the situation.

The Northern California bank’s Friday collapse marked the nation’s largest bank failure since the 2007 financial crisis and has raised concerns about ripple effects throughout the rest of the economy.

Rep. Ro Khanna (D-Calif.), who represents Silicon Valley, said early Saturday on Twitter he wanted to ensure the bank’s depositors would be protected.



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