Silicon Valley Bank deposits to be available Monday, U.S. officials say

The main entrance of Silicon Valley Bank is pictured in Menlo Park
The main entrance of Silicon Valley Bank is pictured in Menlo Park, California, U.S. March 10, 2023. REUTERS/Michaela Vatcheva

WASHINGTON, March 12 (Reuters) - Silicon Valley Bank (SIVB.O) customers will have access to their deposits starting on Monday, U.S. officials said on Sunday.

"Depositors will have access to all of their money starting Monday, March 13," the U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corp said in a statement. "No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer," the statement said.

Reporting by Reuters; Editing by Leslie Adler

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