What Does the 2023 Banking Crisis Mean for the Future of Banking?

Episode 1 of 4 in our "Future of Finance" series, hosted by Wharton School finance professor Itay Goldstein

In March 2023, the U.S. banking system went into crisis following the collapse of multiple small to mid-level banks, notably culminating in the failure of Silicon Valley Bank. Goldstein discusses what catalyzed this banking crisis, why regulators couldn’t prevent it, and what parameters are required to protect smaller banks in the future. He is joined by Hyun Song Shin, Economic Adviser and Head of Research with Bank for International Settlements, and Loretta Mester, former president and CEO of the Federal Reserve Bank of Cleveland, to fully understand the future landscape of the banking industry.

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