How many banks have failed during the 2023 banking crisis?

Four banks in the U.S. have failed so far during the 2023 banking crisis. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

What happened to SVB Financial & Signature Bank?

The collapse of SVB Financial and Signature Bank marks the second and third largest US bank failures since 2008. The total assets of the two failures amount to 87.6% of the total assets from the 25 failures of 2008. What have been the ripple effects on the global banking sector so far? Check out our summarized coverage of the week.

Could a bank failure lead to an economic slowdown?

Regardless of which scenario plays out, the three bank failures could lead to an economic slowdown. As other banks and investors worry that they could meet a similar fate as First Republic, they may act more cautiously. That caution could translate to less money going to businesses and consumers, meaning less economic activity and growth overall.

Did the failure of Silicon Valley Bank make Americans more concerned?

“The failure of Silicon Valley Bank made Americans more concerned about the safety of their deposits,” my colleague Maureen Farrell, who covers finance, said. “And First Republic looked a lot like Silicon Valley Bank.”