Customers of American credit organizations withdrew $98.4 billion from their accounts in the week leading up to March 15 after the bankruptcies of Silicon Valley Bank (SVB) and commercial Signature Bank, as reported on the CNBC website.
This was discussed at a closed meeting of the Financial Stability Oversight Council, attended by, among others, Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell. During the discussion, participants came to the conclusion that the national banking system is in a stable condition.
“The Council discussed current conditions in the banking sector and noted that, while some institutions are under stress, the US banking system remains healthy and resilient,” the statement said.
In the first half of March, the press service of the Federal Deposit Insurance Corporation (FDIC) announced the bankruptcy of American investment bank Silicon Valley Bank (SVB), which ranked 16th in terms of assets in the US. SVB became the largest bankrupt American bank in the last 15 years.
Last week, authorities in the state of New York closed Signature Bank due to systemic risks. This week, the press service of the US Federal Deposit Insurance Corporation announced that New York Community Bank will receive most of Signature Bank’s assets.