What You Need To Know
Following the closures of Silicon Valley Bank and Signature Bank, many companies have questions about what happens next and potential impacts on their businesses.
This page contains insights and resources that may be helpful to your organization. For guidance specific to your business, contact a Jackson Walker attorney.
The resources on this page do not constitute legal advice.
Insights & Resources
Bank Term Funding Program
The Bank Term Funding Program (BTFP) provides an additional source of liquidity to U.S. depository institutions.
- This term sheet provides more details on the program.
- This FAQ from the Federal Reserve answers questions about the purpose and design, borrower information, collateral, and basic mechanics of the program.
FDIC Borrower’s Guide to an FDIC-Insured Bank’s Failure
Updated February 28, 2019
This guide provides information to borrowers on how the FDIC processes loans from failed financial institutions. If borrowers experience financial difficulties, they can contact the FDIC to explore a loan workout program or reasonable proposal to settle debt for less than the amount owed.
Jackson Walker update emails will feature insights and resources on recent bank closings, the impact on business in Texas and nationwide, and evolving regulatory responses.
Updates from the FDIC, Federal Reserve, and Other Government Agencies
Joint Statement from Treasury, Federal Reserve, FDIC, and OCC on Deposits Into First Republic BankMarch 16, 2023
For more information, read the announcement from the 11 banks.
CISA: Beware of Bank-Related ScamsMarch 15, 2023
In light of recent bank failures, CISA warns consumers to beware of potential scams requesting your money or sensitive personal information.
FDIC: Financial Institutions are Required to Meet Contractual Obligations with Bridge Banks
March 14, 2023
All contracts entered into with banks before they failed, and their counterparties were transferred into the bridge bank by the FDIC as receiver.