Reassurances in Banking and Strategic Military Alliances

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.

Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.