Financial uncertainty

Two major American banks went bankrupt.

In a derogation of only a few days, it was reported that two major US banks had closed. We are talking about Silicon Valley Bank (SVB) and Signature Bank.

Their inability to pay customers their money contributed to the termination of their operations. The decision of the US central bank to raise interest rates led to such a situation. Then there was a drop in the value of investments in government bonds. This, in turn, translated into a reduction in the reserve from which deposits were paid out.

Due to the risk of “infections” of the banking sector conducive to causing panic among the public, the American authorities have taken steps to calm the situation. Well, a decision was made to extend the hitherto existing guarantees to all deposits in bankrupt banks. Thanks to this, customers of these banks will have access to all funds deposited there.

The last time this happened was in September 2008. It was then that the American financial holding company Washington Mutual collapsed. At the same time, the large American bank Lehman Brothers also collapsed. This started the global financial crisis.

Source: https://www.bankier.pl/wiadomosc/Upadek-banku-SVB-Jest-decyzja-ws-depozytow-klientow-8503922.html; https://tvn24.pl/biznes/ze-swiata/usa-upadlosc-signature-bank-tuz-po-silicon-valley-bank-klienci-wydzwaniali-aby-upewnic-sie-ze-ich-pieniadze-sa-bezpieczne-6821091