What bank CEOs should tell clients to reassure their money is safe

An image of the Credit Suisse logo on a storefront. (Credit: Fabrice Coffrini—Getty Images)

The global banking system added Credit Suisse to its list of troubled banks earlier this month, which so far includes Silicon Valley Bank, Signature Bank, and First Republic Bank. 

Bank CEOs, eager to avoid the same consumer panic that led to a bank run at SVB, are carefully managing their corporate communications to ensure they instill confidence in the public. For evidence of the importance of effective communication, look no further than SVB, whose poorly written press release and haphazard communication triggered a bank run as panicked depositors pulled $42 billion out of the bank in one day.