March came in like a lion for the banking industry with a trio of bank failures, including the nation’s 16th largest bank, Silicon Valley Bank (SVB), with assets of $212 billion.
The other banks laid to rest in early March were crypto-friendly lenders Silvergate Capital Corp. ($11.4 billion in assets) and Signature Bank ($110 billion in assets). The bank failures set off panic in markets globally and prompted a flight to safe investments, like U.S. Treasuries, which has helped to fuel a recent precipitous decline in interest rates.
The impact of the failures is still being details ⇒
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