How Congress can prevent another banking crisis ...Middle East

The failure of Silicon Valley Bank continues to reverberate through the financial markets, threatening the first banking crisis since 2008. Congress can prevent another crisis by requiring that all bank deposits be insured, and that depositors pay for their insurance.An adage in banking is that there are two kinds of countries: those that have deposit insurance and know it, and those that have deposit insurance but just don’t know it yet.In the United States, there are two kinds of accounts. Accounts up to $250,000 are insured as a matter of law. But as a matter of practice, accounts over this limit are often insured as well. Last week, all deposit accounts at both Silicon Valley Bank an

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Last updated : 21 March 2023 clock 11:57 PM

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How Congress can prevent another banking crisis ...Middle East

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