Events tagged with "deposits"

Historical Events tagged with "deposits"

Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.

Economics & Industry

Silicon Valley Bank Collapses and FDIC Takes Control

March 10th, 2023 2 years ago

Silicon Valley Bank experienced a significant run on deposits, leading to its collapse, marking the second-largest bank failure in U.S. history. Investors lost confidence in the bank, prompting a rapid withdrawal of funds. In response to the crisis, the Federal Deposit Insurance Corporation (FDIC) stepped in to take control of the bank's operations, managing the transition for clients and safeguarding deposits. The event raised concerns within the banking sector about liquidity and trust.