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Treasury to Brief California Lawmakers Sunday On SVB Collapse
The Treasury Department plans to brief California’s congressional delegation on the Silicon Valley Bank collapse at 1:00pm Sunday, according to a person familiar with the plans.
12 Mar 2023, 9:09 AM IST 
The U.S. Treasury building in Washington, D.C., U.S., on Sunday, Dec. 19, 2021. The Treasury's top official for financial oversight said government regulators need action from lawmakers to adequately protect investors, and the wider financial system, from risks posed by stablecoins. Photographer: Samuel Corum/Bloomberg
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(Bloomberg) -- The Treasury Department plans to brief California’s congressional delegation on the Silicon Valley Bank collapse at 1:00pm Sunday, according to a person familiar with the plans.
The briefing comes amid discussions of what sort of response the US government may have to take to prevent contagion. The Federal Deposit Insurance Corp. and the Federal Reserve are weighing creating a fund that would allow the regulators to backstop more deposits at banks that run into trouble following Silicon Valley Bank’s collapse, according to people familiar with the matter, in hopes that it would reassure depositors and contain any panic.
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