[twblalock]

All banks that were not in the “too big to fail” category were at risk as panicked depositors would have flown to safety in the arms of Chase and the other big banks. They would have done that even if their own smaller banks were just fine, because of a fear that other people would do it first. Once the panic begins it becomes a self-fulfilling prophecy.

Also, many other small banks are not fine. SVB is not the only one with concerning duration risk in their assets.