Inside Biden's SVB move to stop future bank runs

Photo Illustration: Tiffany Herring/Axios; Photos: Anna Moneymaker/Getty Images; Justin Sullivan/Getty Images The Biden administration's guiding principle in protecting depositors after the failures of Silicon Valley Bank and Signature Bank came down to this, Axios has learned: Prevent bank runs beyond the initial crisis. Why it matters: The administration's move to shield the banks' depositors — and let banks with profiles

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How does the FDIC work

The Federal Deposit Insurance Corp. headquarters in Washington, DC, on March 13. Photo: Al Drago/Bloomberg via Getty Images The Federal Deposit Insurance Corporation (FDIC) has assumed control of Silicon Valley Bank and Signature Bank and will ensure that depositors don't lose any money in the aftermath of these banks' collapse. The big picture: SVB was the 2nd largest bank in

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