Understanding Recent Bank Failures: Context and Perspective
Banks have been in the headlines recently after several significant developments. News broke on Friday, March 10 that Silicon Valley Bank (SVB) was being taken over by the government after failing to have enough resources to meet customer requests for withdrawals. A similar (and related) scenario played out on Sunday, March 12 when Signature Bank New York (SBNY) was no longer able to meet liquidity requirements. Although these are separate events, there are important similarities that led up to each bank failure. We want to provide context for the bank failures, share an update on the most current news, and add […]
