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Three banks collapse in largest banking crisis in 15 years
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Banking, Financial Stability, Government Oversight
Tuesday, March 14, 2023
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California-based Silvergate Bank, which gained some notoriety as an early participant in crypto investment and transactions, announced it plans to voluntarily liquidate and wind down its business.
Less than a week later, Silicon Valley Bank collapsed after announcing a $1.8 billion loss that would potentially make it unable to meet depositor needs. This was followed closely by New York-based Signature Bank, which was shuttered by state regulators.
Read on for more details.
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