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To be clear: this money is from the U.S. Department of Treasury and is used to cover any losses the Fed may experience in propping up failing banks. So, while the Biden Administration insists that no tax dollars will be used to bail the SVB (and very soon other small banks around the country) out, if the ESF money is used—and there are losses associated in deploying those assets—then, yes, tax dollars will have been used. https://www.msn.com/en-us/money/news/joe-biden-might-have-just-destroyed-america-s-banks/ar-AA18ECD7?ocid=msedgdhp&pc=U531&cvid=a31af6d8dc4e4eb09b8ebc88a9ad2981&ei=30