The collapsed banks were granted a “systemic risk exception,” which means the Federal Deposit Insurance Corp. can guarantee uninsured deposits.

The rollback of Dodd-Frank reforms exempted many of the country’s largest banks from stricter regulations put in place after 2008.

As the government moved to backstop depositors affected by the collapse of Silicon Valley Bank and Signature Bank, surviving banks will end up footing the costs, says Laurie Stewart at Sound Community Bank in Seattle.

The swift and chaotic failure of SVB left CEOs and investors unable to access their money. Should we be worried about contagion?

The bank’s failure arrived with incredible speed, with some industry analysts on Friday suggesting it was still likely a wise investment.