The impact of bank failures on markets and the economy
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Is It a Liquidity Issue or a Solvency Issue?
SVP: It was a liquidity issue at the bank, which resulted in it getting taken over by the FDIC. But really, what prompted that was concerns around the fact that they had these unrealized losses on securities,. They had to crystallize as deposits started to leave. And we'll talk about contagion risk because I think that's the biggest question out there.
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