SVB Collapse
As Banks Topple, Regulators Face Reckoning on Week of Mayhem
- Collapses of SVB, Silvergate in a workweek stoked market panic
- There was a ‘bit of a regulatory blind spot,’ ex-OCC boss says
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On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the US financial system.
By Friday, two banks had succumbed to it.