Is my money safe? What you need to know about bank failures
NEW YORK (AP) — Recent turmoil in the banking industry may have you worried about your money.
The recent collapses of Silicon Valley Bank and Signature Bank, which catered mostly to the tech industry, were the second- and third-biggest bank failures in U.S. history.
It started when too many depositors tried to withdraw their money from Silicon Valley Bank in Santa Clara, California. That’s known as a bank run.
The bank had to sell treasury bonds and other securities at a...
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