The recent bank closures — Silicon Valley Bank getting the most attention, but also Signature Bank — initially raise questions of whether companies would have access to their funds and, among other things, the ability to pay their CRE rents.

Secretary of the Treasury Janet Yellen, Federal Reserve Board Chair Jerome Powell, and FDIC Chairman Martin Gruenberg made clear in a joint statement that deposits would be available starting Monday, March 13.

Erik Sherman

 

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