The U.S. government is bracing for a potential bank run on Monday and is preparing emergency measures to shore up banks and the economy. The U.S. Treasury and the Federal Reserve are preparing to launch a program to backstop deposits exceeding the Federal Deposit Insurance Corp.'s $250,000 limit. The Federal Reserve is also preparing to ease banks' access to its discount window, an emergency lending facility for banks to raise cash. The preparations are not yet official, and the Fed and the Treasury have not publicly commented on measures they are considering. Silicon Valley Bank failed on Friday after depositors rushed to withdraw deposits, causing concern that customers may try to withdraw funds from other banks.
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U.S. Government Scrambles to Avoid Bank Run