Large banks see influx of new depositors following SVB collapse – CBS News
Following the collapse of Silicon Valley Bank and regional banking fears, larger U.S. banks have seen an increase in new depositors looking to secure their money. Stephen Gandel, U.S. banking correspondent at The Financial Times, joined CBS News to discuss the fallout and how major U.S. banks are responding.
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When prominent businesses and investors started pulling their money out of Silicon Valley Bank over concerns about the bank’s solvency, word spread fast on Twitter. “Run on the bank!” entrepreneur Kim Dotcom posted in a March 12 tweet that was viewed by 2.4 million people and retweeted nearly 3,500 times. […]