Is it contagious? US regulators scramble after Silicon Valley Bank failure • FRANCE 24 English

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Are banks going bad again? Markets are scrambling to contain the shockwaves after Silicon Valley Bank, a California lending institution favored by tech startups, whose seemingly safe bet on government bonds proved a bust, triggering an old-fashioned run on the bank. Is it contagious? It's the first major default since rising interest rates signalled the end of decades of cheap money. 2008 triggered a return to regulation, forcing big banks to keep more reserves in the vault… but was it enough?
#SVB #Bailout #banking

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