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Fortune
Fortune
Lila MacLellan

SVB wanted to put its customers at ease. It fueled a fire instead

Greg Becker, President and CEO of Silicon Valley Bank (SVB), speaks during the Milken Institute Global Conference on May 3, 2022 in Beverly Hills, California. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) (Credit: Getty Images—AFP/Patrick T. Fallon)

Silicon Valley Bank is now past tense, but the crisis kicked off by its collapse is not.

Financial leaders are working around the clock to shore up deposits, stave off additional bank runs, and arrange quick deals so that sturdier firms can absorb at-risk competitors. Their efforts to reinforce the global system will be closely scrutinized.

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