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The latest collapse of three high-profile banks – Silicon Valley Financial institution, Silvergate Financial institution and Signature Financial institution – has triggered worrying outflows at lots of of regional banks. Now, with the U.S. Federal Reserve creating a brand new backstop facility reportedly price $2 trillion and Switzerland’s central financial institution bailing out Credit score Suisse to the tune of $54 billion, the echoes of prior disaster in 2008 and 2013 are loud.
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