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Moody’s Investor Service changed its view on the entire banking system from stable to negative Monday following the collapse of a major bank, according to CNBC News.
Silicon Valley Bank (SVB) collapsed Friday in the second largest bank failure in history, and the Treasury, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced Sunday that the government would fully protect all depositors. Silvergate Bank and Signature Bank (SNY). Moody’s downgraded its outlook on the entire banking system the following day, noting deposit runs at two other major banks, according to CNBC.
