After SVB collapse, bank stocks slide despite government intervention

Officials had announced that depositors with money at the failed banks would be paid back in full and able to access their money Monday morning. Biden also said he is asking Congress and regulators to take steps to make similar episodes less likely.

Here are some significant developments:

• The Federal Reserve announced that it was creating a lending facility for the nation’s banks, designed to buttress them against financial risks caused by Friday’s collapse of SVB.
• Stock exchanges suspended trading on several midsize and regional banks on Monday, including PacWest Bancorp and First Republic Bank. Large lenders like Wells Fargo, Capital One and Bank of America also traded sharply lower.