INSTANT VIEW-U.S. intervenes to shore up SVB deposits

But today the Fed acts in the capacity of an even more important role, the lender of last resort, to make sure banks and credit unions have access to whatever cash they need without needing to sell high-quality assets that may be trading for less than face value due to the sharp increase in interest rates. "Still to be determined is the fate of the assets of Silicon Valley Bank.

The U.S. government announced actions to shore up deposits and stem any broader financial fallout from the sudden collapse of tech startup-focused lender Silicon Valley Bank (SVB), sending U.S. stock futures higher. Following are comments from analysts:

MICHAEL PURVES, CHIEF EXECUTIVE OFFICER AT TALLBACKEN CAPITAL ADVISORS: "What investors have to expect coming into tomorrow and beyond is that we are going to be dealing with a lot of event risk. There are still going to be lingering questions with other regional banks.

"Under such a such a scenario, it's hard not to expect very high-rate volatility. If that happens it's really hard to think we'll have an equity rally." GREG MCBRIDE, CHIEF FINANCIAL ANALYST, BANKRATE:

"While the Fed has talked about a lot in the past year, until today it has been in the context of monetary policy. But today the Fed acts in the capacity of an even more important role, the lender of last resort, to make sure banks and credit unions have access to whatever cash they need without needing to sell high-quality assets that may be trading for less than face value due to the sharp increase in interest rates. "Still to be determined is the fate of the assets of Silicon Valley Bank. Whether one buyer, or multiple buyers, emerge is still to be determined as of the moment."