Bank deposit withdrawals following the collapse of Silicon Valley Bank were concentrated in around 30 'super-regional' institutions in the $50 billion to $250 billion range, similar to SVB, New York Fed researchers concluded in a newly released study.
A security guard stands outside of the entrance of the Silicon Valley Bank headquarters in Santa Clara, California, U.S., March 13, 2023. REUTERS/Brittany Hosea-Small/
There were fears banking sector weakness might touch off a wave of mergers that would wipe out smaller institutions - to the potential detriment, for example, of small business lending. But what seemed to be crisis-like dynamics in mid-March turned out to involve a nearly dollar for dollar shuffle of money from the super-regional banks to even larger institutions.
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