March 12 (Reuters) - The U.S. Federal Reserve said it
will hold a closed-door meeting of its board of governors under
expedited procedures on Monday.
The meeting from 11:30 a.m. (0330 GMT) will primarily review
and determine the advance and discount rates to be charged by
the Federal Reserve banks, the Fed said in a statement.
The central bank offered no further details, but the move
follows Friday's collapse of Silicon Valley Bank , was
the biggest failure since the 2008 financial crisis. It roiled
global markets, walloped banking stocks and left California tech
entrepreneurs worrying about how to make payroll.
(Reporting by Mrinmay Dey in Bengaluru; Editing by William
Mallard)
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