# USDC almost re-pegged

By [jaymöney.eth](https://paragraph.com/@jaymöney) · 2023-03-13

---

USDC almost re-pegged

• US Treasury Secretary, Federal Reserve Board Chair, and FDIC Chairman have taken actions to protect the US economy and banking system by resolving Silicon Valley Bank and Signature Bank in a way that protects all depositors without taxpayer losses, while shareholders and unsecured debtholders will not be protected, and senior management has been removed.

• The Federal Reserve Board will make additional funding available to eligible depository institutions, ensuring the safety of depositors' savings and the resilience of the US banking system.

[https://home.treasury.gov/news/press-releases/jy1337](https://home.treasury.gov/news/press-releases/jy1337)

---

*Originally published on [jaymöney.eth](https://paragraph.com/@jaymöney/usdc-almost-re-pegged)*