While the failure of Signature Bank, Silicon Valley Bank and Silvergate have upended the financial sector in the past week, the 2023 banking crisis appears to be causing less of a shock than past blowups, a longtime banking executive said. The U.S. government quickly rolled out the new Bank Term Funding Program to shore up unsecured deposits as Signature Bank collapsed over the weekend just days after Silicon Valley Bank, a unit of SVB Financial SIVB, shut down after a rush of withdrawals. In…
