>Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors
1) That wasn't the Federal Reserve, that was the FDIC that let the banks fail.
2) This program linked to is because of the failure, it happened after.
3) There is absolutely no way any US govt entity will let BOA fail. They might let it "pretend fail", where they essentially just replace all the senior officers and CEO, but even that's pretty unlikely.
The FDIC let those 2 banks fail, because those 2 banks were literally idiotic in their running of the bank. SVB had nobody in charge of bank risk for a long time before it failed. They were playing ostrich and hoping life passed them by and nobody noticed how stupid they were.
BOA in the meantime has a pretty strong staff in place, their risk department is staffed and active, and they are doing everything they can to survive without needing the govt's help. It's likely(but not certain) they will survive without any extra govt help.
>March 12, 2023
>Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors