On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the U.S. financial system.
By Friday, two banks had succumbed to it.
Whether U.S. regulators saw the dangers brewing early enough and took enough action before this week’s collapse of Silvergate Capital Corp. and much larger SVB Financial Group is now teed up for a national debate.
