The ongoing banking debacle is not a rerun of the global financial crisis – neither its good nor its bad bits

INVESTORS these days are constantly confronted with crises. In early 2020, the Covid pandemic was spreading across many countries. In early 2022, Russia invaded Ukraine.

Recently, a banking crisis erupted. Three banks in the US failed this month: Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank.

Over the weekend, the Swiss authorities engineered a deal for UBS Group to buy the teetering Credit Suisse Group – supported by billions in state funding.