Federal Reserve holds an emergency meeting today in light to Silicon Valley Bank failure

United States Federal Reserve (Fed) will host a closed-door emergency meeting of the Board of Governors on Monday in response to the fallout the Silicon Valley Bank.

The meeting will take place via audio/video conference call and at the Board’s offices at 20th & C Streets, N.W., Washington, D.C.,

As stated by one of the persons, the Treasury Department will provide a separate brief for lawmakers this Sunday at 1:00 p.m. The situation is unstable, therefore plans could be modifie.

The briefings coincide with discussions about what kind of reaction United States government should take to avoid contagion.

The Federal Deposit Insurance Corporation and the United States Federal Reserve intend to update California’s congressional delegation on Silicon Valley Bank failed at 11:00 p.m. Saturday, after cancelling a meeting earlier in the day.