The decision by Treasury to backstop all deposits at SVB and Signature — not just those up to $250,000 that are insured under federal law — rested on a judgment that it was necessary to avoid a wider “systemic” meltdown. The decision to protect all deposits was made following unanimous recommendations by the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, the nation’s top banking regulators. ) said that the banking system is “stronger and sounder now than any time” since the financial crisis