Soaring interest rates contributed to recent bank failures – and there could be more to come
- Written by John Whittaker, Senior Teaching Fellow in Economics, Lancaster University
Sven Hansche/ShutterstockUS bank regulators closed Silicon Valley Bank (SVB) on March 10 2023, after it suffered US$42 billion (£35 billion) of deposit withdrawals in a 24-hour period. This was the largest bank failure since the 2008 global financial crisis and was not supposed to happen again.
Since the 2008 crisis, international bank...
