Broker Check

A Timeline of the 2023 U.S. Bank Crisis

Bank Crises by chris@kilmerco.com

References

Four U.S. Banks Failed in 2023

  • https://banks.data.fdic.gov/bankfind-suite/financialreporting?
  • https://www.bankrate.com/banking/signature-bank-collapse/
  • https://www.usatoday.com/story/graphics/2023/03/13/graphics-bank-collapse-silicon-valley/11466073002/
  • https://www.forbes.com/sites/dereksaul/2023/05/01/first-republic-bank-failure-a-timeline-of-what-led-to-the-second-largest-bank-collapse-in-us-history/?sh=2c41f9367b76

More Deposits Were Lost in 2023 Than in 2008

  • https://www.fdic.gov/bank/historical/bank/

Silver Gate Bank Failed

  • https://www.theguardian.com/technology/2023/mar/09/crypto-bank-silvergate-liquidation-sector-turmoil-wind-down-ftx-exchange
  • https://finance.yahoo.com/news/why-silvergate-bank-winding-down-142326734.html
  • https://finance.yahoo.com/news/silvergate-crypto-collapse-differed-silicon-220822674.html

Silicon Valley Bank Failed

  • https://www.svb.com/newsroom/facts-at-a-glance/
  • https://finance.yahoo.com/quote/VGT
  • https://www.reuters.com/business/finance/what-caused-silicon-valley-banks-failure-2023-03-10/
  • https://fortune.com/2023/03/11/silicon-valley-bank-run-42-billion-attempted-withdrawals-in-one-day/
  • https://finance.yahoo.com/quote/SIVB
  • https://www.reuters.com/business/finance/what-caused-silicon-valley-banks-failure-2023-03-10/
  • https://www.cnn.com/2023/03/11/business/svb-collapse-roundup-takeaways/index.html
  • https://www.reuters.com/business/finance/new-york-state-regulators-close-signature-bank-2023-03-12/

Signature Bank was seized by regulators

  • https://www.reuters.com/business/finance/new-york-state-regulators-close-signature-bank-2023-03-12/
  • https://www.cnbc.com/2023/03/12/regulators-close-new-yorks-signature-bank-citing-systemic-risk.html
  • https://finance.yahoo.com/news/regulators-seize-signature-bank-in-third-largest-us-bank-failure-231404695.html

Government promised no bail-outs this time

  • https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm?ref=upstract.com

Government said bank industry would pay

  • https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm?ref=upstract.com
  • https://www.fdic.gov/analysis/quarterly-banking-profile/fdic-quarterly/2022-vol16-4/fdic-v16n4-3q2022.pdf
  • https://www.bnnbloomberg.ca/big-banks-face-billions-in-extra-fdic-fees-to-cover-svb-failure-1.1918936

Government created a loan program for banks

  • https://www.federalreserve.gov/monetarypolicy/bank-term-funding-program.htm
  • https://fortune.com/2023/03/16/fed-banks-emergency-lending-silicon-valley-bank/
  • https://www.marketwatch.com/story/new-fed-bank-facility-could-see-up-to-2-trillion-of-usage-jpmorgan-analysts-say-a496b16e

Banks borrowed heavily from the government

  • https://finance.yahoo.com/news/banks-borrow-164-8-billion-203000220.html
  • https://www.msn.com/en-us/money/other/banks-boost-borrowing-from-fed-crisis-lending-programs-amid-global-turmoil/ar-AA192iDv
  • https://www.federalreserve.gov/releases/h41/20230323/h41.pdf

First Republic Bank bailed-out by other banks

  • https://www.reuters.com/markets/us/first-republic-bank-tumbles-drags-down-shares-other-regional-lenders-2023-03-16/
  • https://www.reuters.com/business/finance/first-republic-secures-new-facility-jpmorgan-2023-03-13/
  • https://thehill.com/business/economy/3903884-first-republic-bank-getting-bailed-out-by-large-banks-report/'

Janet Yellen said only the uninsured deposits of big banks will be bailed out in the future

  • https://www.cnbc.com/2023/03/16/svb-signature-bank-failures-yellen-says-us-banking-system-is-stable-and-deposits-remain-safe.html

10% of U.S. banks may be at high risk of failure

  • https://www.nber.org/papers/w31048
  • https://finance.yahoo.com/video/bank-risk-building-many-many-153033110.html

U.S. economy faces a credit crunch

  • https://www.reuters.com/markets/rates-bonds/feds-powell-faces-political-storm-policy-minefield-over-svb-oversight-2023-03-22/

Nations try to stop the crisis from going global

  • https://www.cnn.com/2023/03/19/economy/central-banks-fed-dollar-liquidity/index.html
  • https://www.bnnbloomberg.ca/fed-foreign-central-bank-tool-gets-tapped-for-record-60-billion-1.1899886

Banks lose $1.2 trillion in bank deposits

  • https://fred.stlouisfed.org/series/DPSSCBW027SBOG
  • https://fred.stlouisfed.org/series/DPSLCBW027SBOG
  • https://uk.news.yahoo.com/top-us-banks-reveal-521-110000702.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAHOqIfNG6xHs8u2dvp15aOi-9KqLC7TitGOdzREvQCH1hsPoJjxSzTd4_IyBWeC-GCN2ey2dkXw5tpBmENpNcPv6LsyzzWCjRDQIjMpJ4e_Gs2fpZBAnJhqw_vHu2rJiFRHbncqZf4ixGgqDPEMJ9WG-IcTt4qRIYkPNw8c2VVNx

Big investors sell out of bank stocks

  • https://www.cnbc.com/2023/04/12/buffett-tells-why-he-sold-most-of-his-bank-stocks-except-one.html

First Republic Bank lost over half of its deposits

  • https://www.msn.com/en-us/money/companies/first-republic-kpmg-are-sued-for-concealing-banks-risks/ar-AA1ajRU1
  • https://finance.yahoo.com/quote/FRC
  • https://www.msn.com/en-us/money/personalfinance/us-regulator-seizes-first-republic-bank-sells-to-jpmorgan/ar-AA1azVO7?cvid=8c0ca1253ee2412eed609a0a0758640c&ocid=winp2fptaskbar&ei=18
  • https://www.youtube.com/watch?v=UhXpGXb5AK8

2023 Bank Crisis rivalled the 2008 Bank Crisis

  • https://www.investopedia.com/bank-failures-eclipse-2008-7487280
  • https://www.fdic.gov/bank/historical/bank/bfb2023.html

Fed lists the causes of the banking crisis

  • https://www.forbes.com/sites/dereksaul/2023/04/28/federal-reserve-says-social-media-partially-at-fault-for-silicon-valley-banks-failure/?sh=d47a7fa289be
  • https://www.npr.org/2023/04/28/1172715215/silicon-valley-bank-postmortem-federal-reserve-fdic-signature-bank

Stock prices of regional banks fell significantly

  • www.yahoofinance.com
  • https://www.reuters.com/business/finance/us-regional-bank-stocks-fall-second-day-first-republic-failure-weighs-2023-05-02/

PacWest Bancorp considered a buyout

  • https://www.businessinsider.com/banking-crisis-pacwest-share-price-tumbles-weighing-sale-2023-5?op=1

Share prices of regional banks unexpectedly surged

  • https://www.barrons.com/articles/pacwest-western-alliance-first-horizon-stocks-banks-8940761a

U.S. Treasury said it expected bank mergers

  • https://www.msn.com/en-us/money/markets/yellen-sees-bank-mergers-earnings-pressure-following-march-crisis/ar-AA1cYUHg
  • https://www.cnn.com/2023/05/19/investing/janet-yellen-bank-mergers/index.html

Disclosures

The views and opinions expressed are based on current economic and market conditions and are subject to change.  There is no guarantee that any statements of future expectations will come to fruition.  All information presented is collected from sources believed to be reliable, but may not be guaranteed.  It is meant to provide general education and should not be considered investment advice, or a recommendation to take a particular course of action.  United Planners is not affiliated with any other entities referenced.

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