https://www.siliconvalley.com/2023/03/13/south-bay-silicon-valley-bank-deposit-first-republic-bank-plunge/

SANTA CLARA — Federal officials moved to insure all deposits at failed Silicon Valley Bank, hoping to inoculate the banking system against contagion, but shares of another Bay Area regional bank plunged on Monday.

The move to protect Silicon Valley Bank depositors arose over fears that tech startups might be forced to shut down or furlough employees due to a cash squeeze if their uninsured deposits weren’t available to tap for their ongoing operations — andas well as to ward off runs against other banks with a high percentage of uninsured deposits.