The banking crisis that has seen First Republic, Silicon Valley Bank and Signature Bank all collapse could become a moment of panic for savers. But it doesn’t need to be if you follow logic rather than emotion.
The important thing to remember with savings safety is that most accounts come with significant protection, such as the $250,000 per person safety net offered by the Federal Deposit Insurance Corporation, which means if your bank went bust and you didn’t have any more than that saved, you’d get your money back.
