Us Bank shares fell sharply on Monday following the failures of Silicon Valley Bank (SVB) and Signature Bank. Regional Bank First Republic Bank was the biggest loser, down more than 60%.

At press time, the bank's shares were down 61.83% to $31.21. In addition, the stock prices of other banks, financial companies and lending institutions also fell significantly. For example, the stock price of Western Alliance Bancorp fell to $26.12, a drop of 47.06%. KeyCorp shares fell 27.33% to $11.38. Zions Bancorporation shares fell 25.72% to $29.97, etc. The shares were also suspended several times on Monday because of the volatile market.

In an effort to stem the spread of the Silicon Valley bank failure, the Federal Reserve is developing a new Term Funding Program for Banks (BTFB) to protect institutions affected by the event. Under the program, the Fed will provide loans for up to one year to financial institutions, which in turn will post high-quality collateral such as Treasury bonds, agency debt and mortgage-backed securities. But the share prices of financial institutions are still in a downward trend.

Silicon Valley Bank, a bank that caters to technology companies, collapsed last week after being unable to meet customer withdrawals. On Wednesday, the bank lost $1.8 billion on the sale of a bond portfolio made up mostly of U.S. Treasury securities. On Thursday, the bank also announced its plan to issue $2.25 billion worth of common and preferred convertible shares to investors. By Friday, however, the bank was under the conservatorship of the Federal Deposit Insurance Corporation. The bank's British arm was also sold to HSBC for just $1.

Late on Sunday, US regulators Treasury, the Federal Reserve and the FDIC announced the joint action, saying: "As of the 13th, depositors of Silicon Valley banks can withdraw all their funds, and the loss of bank failure will not be borne by taxpayers."

In addition, in the joint announcement, the Treasury announced the closure of another Bank, Signature Bank, citing systemic risks. The bank is located in New York State and is one of the main sources of financing for cryptocurrency companies. Silicon Valley Bank's approach applies to Signature, too.