Can modern banks fail? Silicon Valley Bank (SVB) failed following a run on deposits on Thursday. SVB had $212 billion in total assets as of Dec. 31st. Here is what we know –

• It was the largest failure of a financial institution since Washington Mutual during the height of the financial crisis more than a decade ago
• Silicon Valley is the nation’s 16th largest bank
• Silicon Valley failed after depositors hurried to withdraw money as anxiety over the bank’s balance sheet spread
• Silicon Valley was heavily exposed to the tech industry
• The Federal Deposit Insurance Corp. (FDIC) moved to shutter the bank
• Accounts up to $250,000 are insured
• SVB stock plunged more than 60% in value

Homeschoolers/Educators/Parents: Sketch/color an illustration. Theme: money. Listen to the audiobook story “Pied Piper” in Learning to Read: Fairy Tale Adventures. (Kindle/audiobook/paperback). Say and write the word(s) “bank failure” five times so you can learn how to pronounce and spell it correctly. Put these words in alphabetical order: bank, failure, money, pay, savings, job. Write about what the Pied Piper did when the mayor refused to pay him. List five bank facts. Describe one way you want to make money. Write down one question you have about putting your money in a bank and find the answer. (Skills: identify, comprehend, apply, creativity, economics).