In the wake of the two largest bank failures in 14 years, the exposure of depositors is becoming clearer, including right here on Long Island. 

Nassau County says it has $95 million in certificates of deposit at New York City-based Signature Bank, which along with Silicon Valley Bank in California, both collapsed in the last couple of days. 

The county’s money with Signature Bank is fully collateralized and FDIC insured and represents less than 5 percent of Nassau’s cash balances, according to a statement from a county spokesman. 

“The county executive, comptroller, and treasurer are monitoring the situation regarding the bank and we are confident all taxpayer funds are safe,” said the county statement. “County leadership will remain focused on this evolving situation. Our top priority is protecting Nassau County taxpayer dollars and ensuring the continued fiscal stability of our county.” 

At more than $110 billion in assets, Signature Bank is the third-largest bank failure in U.S. history. Under a plan by the Treasury Department, Federal Reserve and FDIC, depositors at Silicon Valley Bank and Signature Bank, including those whose holdings exceed the $250,000 insurance limit, will be able to access their money on Monday. 

“This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth,” the agencies said in a joint statement. 

Signature Bank was a commercial bank with 40 private client offices throughout New York, Connecticut, California, Nevada, and North Carolina. Signature served clients in the cryptocurrency world and had been trying to reduce its exposure, according to published reports, which fueled a 17 percent year-over-year drop in deposits in the fourth quarter of last year.

On Sunday the Fed announced an expansive emergency lending program that’s intended to prevent a wave of bank runs that would threaten the stability of the banking system and the economy as a whole. Fed officials characterized the program as akin to what central banks have done for decades: Lend freely to the banking system so that customers would be confident that they could access their accounts whenever needed. 

The lending facility will allow banks that need to raise cash to pay depositors to borrow that money from the Fed, rather than having to sell Treasuries and other securities to raise the money. Silicon Valley Bank had been forced to dump some of its Treasuries at a loss to fund its customers’ withdrawals. Under the Fed’s new program, banks can post those securities as collateral and borrow from the emergency facility. 

The Treasury has set aside $25 billion to offset any losses incurred under the Fed’s emergency lending facility. Fed officials said, however, that they do not expect to have to use any of that money, given that the securities posted as collateral have a very low risk of default. 

Though Sunday’s steps marked the most extensive government intervention in the banking system since the 2008 financial crisis, its actions are relatively limited compared with what was done 15 years ago. The two failed banks themselves have not been rescued, and taxpayer money has not been provided to the banks.  

The Associated Press contributed to this report.