SVB fallout: European ministers applaud US response as regulators reassure customers

European ministers spoke Monday about the recent failure of Silicon Valley Bank (SVB), which saw U.S. regulators close on Friday after billions of dollars were withdrawn by fearful depositors. Officials with the Federal Deposit Insurance Corporation — the regulator which closed SVB on Friday —were outside the Santa Clara headquarters of the bank to reassure customers that they would be able to access their money.

• Silicon Valley Bank collapse: U.S. bank stocks rally despite contagion fears