Silicon Valley Bank's Collapse Has Spread
One of the worst weeks in history for the US banking system as two major banks collapse and go under regulatory control. However, the effects are now spreading as politicians, central banks and other banks' leadership now scrambles to shore up the banking system through protecting banks such as First Republic (FRC Stock) and Credit Suisse (CS Stock) who are feeling the pressure.
There is plausible concern for contagion now as the effects do not seem to be isolated to just SVB and Signature Bank who both collapsed due to high interest rates and low cash on hand among other things. It is clear that the coming weeks will be pivotal in avoiding or averting a potential crisis.
Disclaimer:
I am not a financial advisor, please do your own research before making any investment decisions, these are at your own risk.
Sources:
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