Over the last few days, the US banking sector has been rocked by the news of the collapse of two prominent banks, Silicon Valley Bank and Signature Bank.
These events have predictably sent shockwaves through the banking industry and raised concerns about the stability of the sector. While the FDIC's insurance program provides a safety net for depositors, the failures of Silicon Valley Bank and Signature Bank serve as a reminder of the importance of diversification and risk management in the financial world.
In this special edition of “Markets in a Minute,” Kara Murphy, CFA, Chief Investment Officer at Kestra Investment Management, discusses why this happened, how the government acted, and whether your savings account is at risk:
https://www.kestraim.com/market-insights/markets-in-a-minute-svb-3-14-23