US FedUS Fed is in a similar position to SVB. The FED borrowed short-term and invested long-term and is $1 trillion underwater. As long as depositors don't start to question if their deposits are safe beyond insured amounts in other banks then everything should be ok. If this is a wake-up call for depositors and they want to move their money into treauries or into the too-big-to-fail money center banks then the run on banks could continue. The only way for the Fed to protect everyone would be massive money printing.