The Banking Crisis: A Timeline of Key Events
The latest on the industry turmoil following Silicon Valley Bank’s collapse
The banking industry turmoil that erupted in March is still rattling regional lenders.
The troubles surfaced with Silicon Valley Bank’s collapse, followed shortly after by the failure of Signature Bank. First Republic was seized and sold to JPMorgan Chase in early May. The three banks served wealthy clients and businesses with large accounts that exceeded the federally insured limit of $250,000, making their deposit bases more vulnerable to flight with any signs of stress.
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