SVB's collapse sends small-bank customers running for shelter in big Wall Street banks
as worries about stability spur customers of smaller US lenders to move their money out.
The flight to big banks comes despite the US government taking emergency measures to stop the spread of potential bank runs"The calls have been coming in today like airplanes stacked on a snowy day at O'Hare airport," one senior banker told the FT about the number of new depositors moving out of regional lenders.
The turmoil sparked fears that similar companies could go down under similar pressure, prompting investors to shun financial-sector stocks. Meanwhile, customers of smaller lenders started to look to the safety of"too big to fail banks."
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