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Vidhura S. Tennekoon

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    Big Picture

    Why SVB and Signature Bank failed so fast – and the US banking crisis isn’t over yet

    Vidhura S. Tennekoon
    March 14, 2023
    Why SVB and Signature Bank failed so fast – and the US banking crisis isn’t over yet

    People wait for service outside Silicon Valley Bank in Menlo Park, Calif.

    Photo by John Brecher for The Washington Post via Getty Images

    Vidhura S. Tennekoon is an Assistant Professor of Economics at Indiana University.

    Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time. The failures at SVB and Signature were two of the three biggest in U.S. banking history, following the collapse of Washington Mutual in 2008.

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