Chapter
Unusual Intervention to Prevent Banking Crisis
24:41 - 26:58 (02:16)
Federal regulators have approved an unusual intervention into the banking industry to avoid a financial crisis after the government shut down two regional banks, Silicon Valley Bank and Signature Bank. Customers feared the financial health of Silicon Valley Bank, leading them to withdraw tens of billions of dollars, causing regulators to intervene.
Clips
Federal regulators have approved an intervention into the banking industry to avoid a financial crisis after the government shut down two regional banks, Silicon Valley Bank and Signature Bank.
24:41 - 26:58 (02:16)
banking crisis
Summary
Federal regulators have approved an intervention into the banking industry to avoid a financial crisis after the government shut down two regional banks, Silicon Valley Bank and Signature Bank. The government intervention ensures that everyone with money in these banks will be paid back in full, even if their deposits exceeded the $250,000 ordinarily insured by the government.