The Biden administration has announced that customers of Silicon Valley Bank will have full access to their deposits, an extraordinary move by federal officials to backstop billions of dollars in uninsured money amid fears that the bank's collapse could lead to greater panic.

• Federal regulators said Sunday that it was taking the emergency measures to prevent contagion at other small and regional banks in the wake of Silicon Valley Bank's sudden implosion.
• The move ensured the security of an estimated $8.1 billion of deposits. British officials worked throughout the weekend to find a buyer for the UK subsidiary of the California-based bank.
• Its collapse was the second-largest bank failure in history.