US regulators unveiled emergency measures on Sunday to shore up the banking system and took management of one other financial institution, as they moved to stem contagion from the implosion of Silicon Valley Financial institution.
The Federal Reserve introduced a brand new lending facility geared toward offering extra funding to eligible depository establishments to make sure that “banks have the ability to meet the needs of all their depositors”. In an announcement, the US central financial institution added it was “ready to handle any…
