WASHINGTON/NEW YORK (Financial Times) -- The Federal Reserve announced an emergency lending facility on Sunday to shore up the U.S. banking system, and said another bank had been closed, as it tried to stem contagion after the implosion of Silicon Valley Bank (SVB).
In a statement, the Fed said it would make additional funding available to eligible depository institutions to "help assure banks have the ability to meet the needs of all their depositors."
