Lessons To Be Learned From 2023's Bank Failures

In scale and scope, 2023 saw the most significant systemwide
banking stress since the 2008 global financial crisis. The collapse of four regional and global banks coupled with significant rises in interest rates, inflation and seismic geopolitical instability have raised questions around the adequacy of prudential and regulatory frameworks.

This article, featured in Law360, looks at the major themes emanating from the consequent period of self-reflection by regulators across the world. It will examine the U.K. perspective while drawing on the universal
themes that have, understandably, been reiterated across the major
global economies.

Background

On March 8, Silvergate Capital, a fintech and cryptocurrency uninsured, nondepository bank in California, announced it would be winding down its operations and liquidating its bank.