Why Silicon Valley Bank collapsed and what the bailout means for its depositors

The collapse of Silicon Valley Bank is the largest U.S. bank failure since the 2008 crisis. The Federal Reserve said that customer deposits were guaranteed. While U.S. President Joe Biden tried to send a reassuring message that the financial system is in good health. However, there is nervousness in the markets, which in both Asia and Europe suffered heavy losses due to fears of a contagion effect.

2023-03-16T23:36:48+00:00
Duration: 04:57