Today (12th), let's take a look at how far the aftermath of the US Silicon Valley bank bankruptcy will go. Right now, there is growing anxiety in the U.S. that venture firms and small and medium-sized banks could go bankrupt. The U.S. government and even President Biden have come up with countermeasures.

Jong-won Kim is a correspondent in New York.

Long lines of people trying to find money lined up in front of a
bankrupt Silicon Valley bank.

Venture companies, cryptocurrency issuers and vineyards in California's Napa Valley are unable to find cash deposits, let alone loans.

[Stefan Kalb/Shelb Engine CEO: The reality is that you can't run the company unless you take out a loan (even though you have company money deposited in a Silicon Valley bank). In the end, you have no choice but to go into debt.]

President Biden discussed countermeasures with the governor of California, where Silicon Valley Bank is headquartered.

With a deposit guarantee limit of $25,3 and 3 million won of our own money, 90% of Silicon Valley bank deposits have exceeded this limit, starting tomorrow, we are considering paying 30-50% of the excess deposit protection limit early and creating a new fund in case bankruptcy spreads.

Anxiety among depositors about what would happen to these smaller small banks if even the 5000th largest bank in the U.S., with nearly 16,13 banks, is not protected, raising fears that a withdrawal rush could begin on Monday.

In particular, there are many companies in the United Kingdom and Canada that have deposited most of their company's funds in Silicon Valley banks, so there is a growing fear that a number of companies will enter forced liquidation from Monday the <>th.

(Video Interview: Lee Sang-wook, Video Editing: Jung Sung-hoon)