The Implosion of Silicon Valley Bank

With federal regulators planning to take over the collapsed Silicon Valley Bank, a 40-year-old institution based in California, nearly $175 billion in customer deposits will be placed under the authorities’ control.

The lender’s demise is the second-largest bank failure in U.S. history and the largest since the financial crisis in 2008. The debacle raised concerns that other banks could face problems, too.

Guest: Emily Flitter, a finance correspondent for The New York Times.

Background reading:

• A run on deposits brought Silicon Valley Bank’s failure.
• Here’s what to know about the fallout from the lender’s collapse.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.

Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.