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US agencies act to prevent crisis

As a second institution is closed by regulators, emergency measures to shore up the US financial system and prevent a banking crisis are being implemented. It comes as local tech companies confirm minimal exposures to the Silicon Valley Bank failure.

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Read more: Silicon Valley BankSignature BankFDICFederal ReserveFederal Deposit Insurance CorporationNew York Department of Financial ServicesBank Term Funding ProgramFirst Republic BankJanet YellenJerome PowellMartin GruenbergNASDAQPengana International Equities LICPengana Private Equity Trust