Probability That US Banks Will Restrict Cash Withdrawals Is ‘Rising Like Mercury’

A logo outside the front door points to the German branch of Silicon Valley Bank (SVB) in Frankfurt's West End, which resides in an office building here. Following the US start-up financier's difficulties, the US government has stepped in and announced that all deposits with the financial institutions will be protected. BORIS ROESSLER/BENZINGA

The collapse of three major banks could incur major changes to the banking industry as the public knows it. As for one hedge manager, he foresees restrictions in cash.

Last week, macro guru and hedge fund manager Hugh Hendry shared his views on the U.S. banking system.