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by jvanderbot 1200 days ago
Wait so svb made up that whole spike? A chart with number of banks would hardly show a blip this year?
1 comments

Yes. SVB was the first bank failure since 2020.
Wasn't silvergate the first failure just days before SVB?
Yes and No. Depends how you track "failure" and from which Point of View:

> Silvergate Capital Corp.'s voluntary liquidation process is being supervised by the state of California, and the company has not entered the Federal Deposit Insurance Corp.'s receivership program at this point, a spokesperson for the California Department of Financial Protection and Innovation confirmed.

https://www.spglobal.com/marketintelligence/en/news-insights...

Other banks in the past have "failed", but not from FDIC point-of-view, instead merged into others through a shotgun marriage facilitated by the feds, e.g. Bear Stearns and National City Bank[0] (formerly a top10 US bank until late 2008)

[0]https://news.ycombinator.com/item?id=35113816