How many banks have failed during the 2023 banking crisis?

Four banks in the U.S. have failed so far during the 2023 banking crisis. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.

Will 2023 go down in the history books?

2023 may go down in the history books as the year America lost faith in its banks. Over the course of a few weeks in the spring of 2023, multiple high-profile regional banks suddenly collapsed: Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank.

Why did three banks go belly up in 2023?

While rising interest rates, declining commercial property values, and a looming recession spell trouble for the entire banking sector, three banks went completely belly up in 2023—and they owed their problems to additional headwinds: SVB declared insolvency on March 10, 2023.

Are We dealing with the worst banking crisis Since 2007-8?

We are currently dealing with the worst banking crisis since 2007-8, an economist warns. He says one in 10 banks are sitting on greater losses and tighter funding than Silicon Valley Bank, which collapsed earlier this month.