CX Daily: 2008 Redux? SVB Collapse Raises Questions About Banking Oversight

Banking /

Cover Story: 2008 Redux? SVB collapse raises questions about banking oversight

It took just 48 hours for Silicon Valley Bank (SVB), a key lender serving half of U.S. venture capital-backed startups with over $210 billion in assets, to collapse, making it the second-biggest banking failure in U.S. history.

Although the government is bailing out its customers by backstopping all deposits, the collapse of two more smaller banks within a week have sparked concerns about the overall health of the U.S. banking sector, sparking worries that another global financial crisis like that of 2008 is looming.