Joint statement

According to reports, the United States Treasury Department, the Federal Reserve, the Federal Deposit Insurance Corporation of the United States, and the Office of the Comptroller of the Currency issued a joint statement. U.S. Treasury Secretary Yellen and Federal Reserve Chairman Powell stated that the deposit support provided by banks to the First Republic Bank demonstrated the resilience of the banking system. The Federal Reserve is ready to provide liquidity to eligible institutions. Powell: The Federal Reserve is ready to provide liquidity to eligible institutions Analysis based on this information:The United States Treasury Department, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency released a joint statement on the stability of the banking system, highlighting the robustness of the assistance provided by banks in the case of deposit support. The First Republic Bank was mentioned as a model of resilience in the banking industry. The statement is grounded in the Federal Reserve’s…

It is reported that as of March 12, 325 venture capital institutions, including Sequoia Capital, have signed a joint statement of support for the Bank of Silicon Valley; In addition, 650 founders who employed more than 22000 employees also signed a statement saying that they required the regulatory authorities to prevent the disaster. This statement from the venture capital industry is led by the venture capital company General Catalyst. 325 venture capital institutions including Sequoia and 650 founders jointly stated that the Bank of Silicon Valley cannot fail Analysis based on this information:The venture capital industry has taken a stand to support their own, as 325 firms, including major player Sequoia Capital, signed a joint statement in support of the Bank of Silicon Valley. Furthermore, 650 founders from across the industry, employing over 22,000 employees, also signed a statement showing their support and urging regulatory authorities to intervene to prevent potential disaster for the Bank of Silicon Valley. It is…