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Federal Reserve: Central Bank Lending Lessons from the 2023 Bank Crisis

Author

Listed:
  • Timothy Sablik

Abstract

In the spring of 2023, a pair of fast-moving bank runs threatened to spark a widespread financial panic. On March 9, the 16th largest bank in the country, Silicon Valley Bank (SVB) in Santa Clara, Calif., lost a quarter of its deposits in a single day. It was set to lose another 62 percent of deposits the following day before it was closed by regulators. On March 10, New York-based Signature Bank experienced a similarly rapid flight of 20 percent of its deposits. It was closed by regulators on March 12.

Suggested Citation

  • Timothy Sablik, 2024. "Federal Reserve: Central Bank Lending Lessons from the 2023 Bank Crisis," Econ Focus, Federal Reserve Bank of Richmond, vol. 24(3Q), pages 4-7, August.
    • Handle: RePEc:fip:fedrrf:98666
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