This article was originally published on Friday but has been updated in light of recent announcements.

The federal reserve announced on Sunday that it will make additional funds available to eligible custodians to help them meet the requirements needs of all their depositorsa move that will support depositors and protect financial institutions, including SVB Finance Group SIVBand based in New York signature bank SBNY.

Regulators approved the additional funding through the creation of a new Bank Term Funding Program (BTFP), which will offer loans of up to one year to banks and other approved custodians that pledge U.S. Treasuries, government bonds and mortgage-backed securities and other qualifying assets as collateral .

So, with the Fed stepping in to provide depositors with collateral, is it time to buy recently-battered regional bank stocks? Tim Melvin thinks so.

Silicon Valley Bank Focus on the venture capital industry was their downfall, Melvin, a regional banker, said Friday on “Benzinga Live”..

Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation and the Federal Deposit Insurance Corporation (FDIC) was appointed as the bank’s receiver.

The parent company of SVB, SVB Finance Group SIVBcould not raise enough cash to sustain operations and the bank was shut down Friday and by the California Department of Treasury Acquisition by the Federal Deposit Insurance Corp.

The companies hardest hit by the SVB collapse are venture-backed companies, particularly in the tech startup space, Melvin said.

Continue reading: Check out Tim Melvin on Marketfy

Melvin on what’s happening now: Early-stage venture capital funding has dried up for the affected companies, and if they had money in SVB, they are eligible under FDIC rules to receive $250,000. Those funds could come as early as Monday, he said.

The FDIC will manage the bank’s assets, securities and loans in order to…