Key Highlights :
1. The Silicon Valley Bank has collapsed, triggering concerns about the state of the US economy.
2. The Biden administration refused a federal bailout of the lender, but announced that its depositors will have access to their money beginning today.
3. The moves comes as another lender, the Signature Bank, was shut by New York regulators on Sunday.
4. The Bank Term Funding Programme (BTFP) has been announced to make additional funding to eligible depository institutions.
5. With approval of the US treasury secretary, the Department of Treasury will make available up to $25 billion from the Exchange Stabilisation Fund as a backstop for the BTFP.
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