On March 10, the Federal Deposit Insurance Corporate (FDIC) officially took over Silicon Valley Bank in order to protect depositors, marking a remarkably swift end to a bank that had been in business for four decades. Then on March 12, Signature Bank, based in New York City was also taken over by regulators. Collectively, those banks held over $250 billion in client deposits.
Read Markets in a Minute
https://www.kestraim.com/market-insights/markets-in-a-minute-svb-3-14-23