Banks feel the heat

US bank regulators have said that all deposits made at the two failed banks, SVB and Signature, including those beyond the US$250,000 (RM1.1mil) limit would be covered by FDIC insurance. — AFP

It’s been a tough week for the global banking sector, and that’s putting it mildly.

On March 10, the Silicon Valley Bank (SVB) collapsed, making it the biggest banking failure since the global financial crisis.