Regulators change tactics to address the biggest bank failure since 2008

WAMU 88.5 | By Amanda Williams

Published March 13, 2023 at 8:12 AM MDT

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The Silicon Valley Bank (SVB) logo is seen through a rain covered window in front of the SVB headquarters in Santa Clara, California.

The biggest United States bank failure in nearly 15 years is sending jitters through global financial markets.

Regulators stepped in over the weekend and said all deposits at Silicon Valley Bank would be guaranteed by a banking insurance fund. That’s after a run on deposits made the tech-focused bank insolvent.

And on Sunday, regulators also seized New York-based Signature Bank.

So, what does this mean for the state of the U.S. economy?