Who ends up paying for SVB, Signature and other bank failures?
CBSN
The federal government's response to the failure of Silicon Valley and Signature banks has already involved hundreds of billions of dollars, which brings into question who will end up paying for the aid.
It could be months before the answers are fully known.
The Biden administration said it will guarantee uninsured deposits at both banks, while the Federal Reserve announced a new lending program for all banks that need to borrow money to pay for withdrawals. On Thursday, the Fed said banks had borrowed about $300 billion in emergency funding in the past week, with nearly half that amount going to holding companies for the two failed banks to pay depositors. The Fed did not say how many other banks borrowed money and added that it expects the loans to be repaid.
An Arizona grand jury indicted 18 people Wednesday in the ongoing investigation into an alleged attempt to use alternate electors after the 2020 presidential election as part of a wider alleged conspiracy to falsely declare then-President Donald Trump the winner, the state's attorney general announced.
Almost four out of every 10 people in the United States live in a place where air pollution is considered bad enough to put their health at risk, the American Lung Association warned in its latest "State of the Air" report released on Wednesday. That proportion of people — about 39% of the population — had risen sharply since earlier rounds of pollutant data were analyzed for the annual report last year, and the trends were especially pronounced in certain parts of the country.