Monday☕️

Mar 13, 2023 • 3 min read

Trending:

Markets/Economies:

Banks:

Silicon Valley Bank and now Silvergate bank has collapsed.
The US government has decided to bail out both banks, including all funds over the FDIC's $250k limit.
Joint statement from the US Treasury, The Federal Reserve, and the FDIC:

The Federal Reserve will implement the Bank Term Funding Program (BTFP), which will give loans of up to one year to banks, savings associations, credit unions, agency debt, and mortgage-backed securities.
The Department of the Treasury will make $25 billion available from the Exchange Stabilization Fund as a backstop for the BTFP.

Nicaragua:

Nicaragua's leader, Daniel Ortega, has ended diplomatic ties with the Vatican, citing alleged "coup terrorism" and "fake news" spread by Pope Francis.
This decision makes Nicaragua the only Latin American nation without diplomatic relations with the Vatican.
Statement:

Statement translation:
In response to information that has been disseminated by apparently Catholic Church-linked sources,
the Government of National Reconciliation and Unity of our blessed and forever free Nicaragua wishes to clarify that a suspension of diplomatic relations has been proposed between the Vatican City State and the Republic of Nicaragua.
It is noted that the media outlets associated with the coup-plotting terrorism that attacked and killed the Nicaraguan people in April 2018 were the ones that spread this distorted news, which is now known as fake news. - End of statement.

Statistic: