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Podcast

The Explainer: What's behind the recent wave of bank failures?

Brooke Masters from the Financial Times joins us on this week’s episode to explain exactly what is going on. What caused the collapse of Silicon Valley Bank? How did it cause ripple effects across the world? And although we’re hearing a lot about venture capital, how worried should Joe and Jane Doe be about their savings?

THE PAST FEW weeks have seen a wave of bank failures, starting with Silicon Valley Bank (SVB) and causing a ripple effect that seemed to spread as far as Switzerland’s Credit Suisse.

This has brought back memories of the 2008 banking crisis, leaving many asking if their savings are safe, or which bank is next.

But are we seeing contagion? Are all these failures linked? If they are, will we see a domino effect?

To demystify all of this, we’re joined this week on The Explainer by Brooke Masters, US financial editor with the Financial Times. She dissects what happened to SVB, Signature, First Republic, and Credit Suisse, and explains that although it feels like 2008 – and there are some similarities – banks are likely to be a lot more stable right now.


The Explainer / SoundCloud

This episode was created by presenters Sinéad O’Carroll and Laura Byrne, and producers Aoife Barry and Nicky Ryan.

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