The answer to the question of the origin of a potentially major crisis has been clear since Friday evening. After unsettled customers withdrew a large part of the deposits from the Silicon Valley Bank (SVB), which specializes in financing start-ups, within a few hours, the deposit insurance FDIC stepped in and closed the institute.
Another company collapsed, New York-based Signature Bank. With far-reaching guarantees for the deposits stashed at the banks and the search for a buyer, the regulators wanted to prevent the uncertainty from spreading to the system – and possibly destabilizing it.
The constellation is reminiscent of the dark days of the 2008 financial crisis.
