The Daily Money: After SVB which banks could be the next to fail?

SVB's collapse is sounding alarms across the global banking industry leaving many people wondering which bank could be the next to fail. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Monday, March 20 Happy Monday! I'm Elisabeth Buchwald and boy is it nice to have a break from March Madness games. And yes, in case you're wondering, my bracket is completely busted so I'm basically just rooting for the underdogs who are left (go tigers!).  Anyway, there's another bout of March Madness going on that doesn't involve basketball and unfortunately, it doesn't seem to be taking any breaks.  Over the weekend, UBS took over Swiss banking giant Credit Suisse for $3.2 billion to quell financial markets that have been rattled by the collapse of Silicon Valley Bank and Signature Bank. This came after the Swiss government loaned around $54 billion to Credit Suisse last week to shore up liquidity. Over the weekend the Swiss government pledged an additional $9 billion "in order to reduce any risks for UBS"  and "potential losses arising from certain assets that UBS takes over as part of the transaction." What's the next SVB? After Signature Bank and SVB, many people are wondering which bank could be the next to fail.  A recent study found that close to 190 banks could find themselves in a similar fate to SVB and Signature if only half of their depositors decide to withdraw their funds. A pedestrian passes a Silicon Valley Bank branch in San Francisco. Jeff Chiu, AP Part of the reason why is the Federal Reserve's rate hikes which have eroded the value of bank assets such as government bonds and mortgage-backed securities. That means that banks have fewer assets to back depositors' money should they want to withdraw it. A run on these banks could pose potential risk to even insured depositors — those with $250,000 or less in the bank — as the FDIC's deposit insurance fund starts incurring losses, according to the economists who authored the study. 📰 More stories you shouldn't miss 📰 Feeling the pinch at the grocery store?: Here's how you can save by buying store brands Who is Janet Yellen?: What to know about the Treasury Secretary and Silicon Valley Bank Dollar Tree has stopped selling eggs: The retailer pointed to 'very high' prices that persist, reports say Government bailouts: A history of government interventions and relief programs About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Elisabeth Buchwald is a personal finance and markets correspondent for USA TODAY. You can follow her on Twitter @BuchElisabeth. Could 190 more banks fail? One study thinks so The Fed's aggressive interest rate hikes have eroded the value of bank assets such as government bonds and mortgage-backed securities. SVB collapse: Broader impact worries founders of color Diabetes treatment is costly. But the biggest expense isn't insulin Taxes are due soon, but these late contributions can still be deducted Your mattress is disgusting. Here's how to clean it Ford, Honda recall over 1.9 million vehicles: Check car recalls here World's longest bar set to open in Middle Tennessee DNC, Biden will return political donations tied to Silicon Valley Bank Women executives outnumbered 5 to 1, new analysis shows Biden calls on Congress to impose tougher penalties for bank failures   Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102