The SVB collapse has all the makings for the trigger event for a full-blown financial crisis, but steps are being taken to stop the spread before that happens. Images of the bank’s closing and customers standing outside the doors are sure to remind people the bank runs on infamous Black Tuesday (1929) that kicked off the Great Depression – as portrayed in the film It’s a Wonderful Life.nnFortunately, depression-era protections, such as the Federal Deposit Insurance Company (FDIC), and government intervention can help stem the tide of panic. One of the most significant steps the government took was announcing on Sunday, March 12, 2023, that all SVB deposit customers would be able access their money on Monday, March 13, 2023. This includes customers whose holdings exceeded the FDIC insured amount of $250,000.nnThe actions taken will hopefully prevent more bank runs and closings. However, one bank, the NY-based Signature Bank, also failed. With $110 billion in assets, it’s the third largest bank failure in US history (first is Washington Mutual in 2008).nnThe FDIC created a new entity, the Deposit Insurance National Bank of Santa Clara. All insured deposits were transferred, and the bank is set to open on Monday, March 13, 2023.nnThe Fed also announced a new emergency lending program designed to help prevent a rash of bank runs that could upend the stability of the banking system and economy as a whole. Under the program, the Fed would freely lend to banks so that banking customers would remain confident that they could access their accounts when needed. In banking, customer confidence is just as important as cash. The lending program is designed to protect both.nnInstead of selling securities to pay depositors (like SVB did), banks can borrow from the lending program using their securities as collateral. The Treasury as set aside $25 billion to offset any losses from the program, but it doesn’t expect much loss since the securities used as collateral have a very low risk of default.