Home › MCQs › General Knowledge › Question #7707
Back to Questions
General Knowledge QUESTION #7707
Question 1
In 2023, which major US bank collapsed, triggering fears of a financial crisis?
  • Bank of America
  • JPMorgan Chase
  • Silicon Valley Bank✔️
  • None of these
Correct Answer Explanation
Silicon Valley Bank (SVB) collapsed in March 2023, becoming the second-largest bank failure in US history. The collapse was triggered by a bank run after SVB announced significant losses on its bond portfolio, causing widespread concern in the tech and startup sectors.