Episode description
With federal regulators planning to take over the collapsed Silicon Valley Bank, a 40-year-old institution based in California, nearly $175 billion in customer deposits will be placed under the authorities’ control.
The lender’s demise is the second-largest bank failure in U.S. history and the largest since the financial crisis in 2008. The debacle raised concerns that other banks could face problems, too.
Guest: Emily Flitter, a finance correspondent for The New York Times.
Background reading:
- A run on deposits brought Silicon Valley Bank’s failure.
- Here’s what to know about the fallout from the lender’s collapse.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
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