The failures of Silicon Valley Bank (SVB) and Signature Bank in March 2023 were the third and fourth largest bank failures in the United States since 2001 in terms of total assets lost. The only larger bank failures were those of Washington Mutual Bank in 2008 and First Republic Bank in May 2023. The loss of assets upon the failure of Silicon Valley Bank and Signature Bank was close to the total amount of assets lost in 2008, when 25 banks collapsed.
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