What Happened in the Banking Sector Since COVID-19?

Meiru ZhongThis banking article was written by Meiru Zhong – Financial Analyst at I Know First.


  • Interest rates have had a roller-coaster ride during the pandemic, dropping to around 0% and then surging to 5%. Severe market volatility and soaring interest rates have negatively impacted banks' operations.
  • The collapse of Silicon Valley Bank (SVB) was mainly attributed to two reasons: interest rate risk and liquidity risk.
  • To restore public confidence in banks, the Fed reimbursed deposits of over $250,000 in each account for the two banks, created the Bank Term Funding Program (BTFP), and reviewed the 2018 law for stricter banking rules.

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