Assessing the Banking Industry a Year After the SVB Collapse

Last March, Silicon Valley Bank collapsed after enduring bank runs that at their height drained $42 billion in reserves over 24 hours. Two days later, Signature Bank of New York was shuttered. As reports noted concerns that could affect several institutions in addition to idiosyncratic problems at SVB and Signature, regulators took short-term steps to stabilize the financial system—including covering uninsured deposits at failed banks and unveiling a new bank funding program. Regulators th…