Two US banks, Silicon Valley Bank (SVB) and Signature Bank, have collapsed this month, and Swiss bank Credit Suisse is being bought by rival UBS.
The aftermath of the SVB collapse sparked heavy losses on London’s stock markets and US banking stocks also fell sharply. However, experts have reassured UK banking customers that our banks are more robust and we are unlikely to see the events of 2008 happen again. Nevertheless, people may be concerned about the banking news coming out of the US and Europe.
