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14min chapter
The banking crisis, two years later
Complex Systems with Patrick McKenzie (patio11)
Understanding Bank Runs and Financial Distress
This chapter examines the dynamics of bank runs through real-time data from March 2023, revealing that 22 banks experienced significant deposit outflows amidst a broader banking crisis. It critiques traditional ideas about bank runs, stressing that deposits often shift between institutions rather than being withdrawn entirely, and explores the role of rising interest rates in precipitating bank failures. The discussion also emphasizes the implications for various groups, including stakeholders like mortgage holders and startup employees, amidst the backdrop of substantial unrealized losses in the U.S. banking system.
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