Financial regulators said Sunday night depositors of the failed Silicon Valley Bank and will be accessible starting from Monday

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The heads of the Federal Reserve, Treasury Department, and FDIC said

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After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete

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its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors.

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Depositors will have access to all of their money starting Monday, March 13

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No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer

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