![]() We have lots of tools to help depositors, but we haven’t seen many people worried today.” She’s fielded a few calls from some depositors who are “thinking about how their accounts are structured. It was created in 1933, and it’s worked in every instance as it’s intended.” What I think people don’t realize is that it’s not taxpayer funded. The bottom line, Graf said, is that “the FDIC works really well. “Lots of people were worried on Friday,” she said, “but it’s nice that Janet Yellen made her announcement yesterday so people could enter their workday with better information.” Susan Graf, vice president for regional development for Glenwood Springs-based Alpine Bank, said she was grateful for Yellen’s reassurances. “All is good,” said Mike Freeman, general partner of Fort Collins-based Innosphere Fund, part of the Innosphere technology startup incubator. Separately, in a move designed to stem a possible contagion and protect banks against financial risks caused by SVB’s collapse, the Federal Reserve said it was creating a lending facility for the nation’s banks. The extraordinary intervention also was extended to depositors of Signature Bank of New York, which state regulators closed on Sunday. ![]() announced Sunday night that all depositors at the failed bank, which was heavily involved in venture capital and the global tech sector, would have access to all their money on Monday morning. The federal Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp. Without that it could have been catastrophic.” “Silicon Valley Bank was a central part of the ecosystem, but at least the depositors will have those deposits covered. “Things are still a little bit in flux, but hopefully the startups will come through this without significant losses,” said Brynmor Rees, managing director of CU Venture Partners at the University of Boulder and associate vice chancellor for research and innovation. Federal actions over the weekend to blunt the effects of Friday’s collapse of Silicon Valley Bank came as a relief to several economists involved with technology startups in Northern Colorado and the Boulder Valley.
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