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Causes, Course and Consequences of the Bank Crisis in the USA at the Turn of the 1st and 2nd Quarter of 2023
Abstract
Within a few days in March 2023, three banks failed in the US, Silicon Valley Bank (SVB) the 16th largest US bank was the first to fail, followed by Signature Bank (SB) and First Re- public Bank (FRB). These events recalled the 2008 collapse of Washington Mutual Bank. The immediate cause of the bankruptcy of SVB, SB and FRB was a rapid outflow of deposits, which increased the risk of a similar run on other banks in the American banking sector. This was particularly true for banks that had relatively large shares of customer deposits not covered by FDIC guarantees, had unsettled asset losses, or had significant exposures to commercial real estate in their loan portfolios. These processes have once again highli- ghted the threats to bank stability caused by the aggregate impact of tight monetary and financial policy and mismanagement of interest, liquidity and credit risk. The study analy- zes the financial situation of bankrupt banks and the medium-term projection of stability threats that may occur in banks with a similar business profile and balance sheet structure. Keywords: FRB, SBNY, SVB, deposit insurance, bank failure.
Keywords:
FRB, SBNY, SVB, deposit insurance, bank failureJEL Codes
E40, E42, E43, G01, G21Details
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