Many investors may be tempted to react in the wake of both the Silicon Valley Bank and Signature Bank's financial troubles. After all, the unprecedented events of last week would test the mettle of even the most seasoned investor.
The Federal Reserve and Treasury Department took the extraordinary step of designating SVB and Signature Bank as systemic risks to the financial system, giving regulators flexibility to backstop the uninsured deposits. Regulators hoped that protecting these deposits would bolster confidence in the banking system. However, I want to reassure you that as events unfold, Riggle Wealth Group will maintain a watchful eye.
Remember, Wall Street and the media have a limited attention span regarding unusual economic events. That's why we crafted your investment strategy to reflect your goals, time horizon, and risk tolerance, regardless of what the markets do daily.
Please reach out if you have any questions about what’s happening with the banking sector in light of recent events. I'd welcome the chance to give you my perspective on what’s happening.
Considering the SVB Collapse
March 21, 2023