“It’s like a horror movie” Customers in front of the bank

◀ Anchor ▶

Fear and anxiety are spreading following the bankruptcy of a Silicon Valley bank in the United States.

Customers flocked to the bank to retrieve their deposit balance, and bank-related stocks plummeted in fear that another crisis might come.

Correspondent Narim Kang from New York covered the story.

◀ Report ▶

Customers who heard the lightning-like news immediately rushed to the bank.

This is in front of the New York Signature Bank, which has been decided to close.

Reporters have been pouring in since early morning.

The government urgently put out the fire, but there is still anxiety that it may lead to a series of bankruptcies of small and medium-sized banks.

I knock on the tightly closed bank door, but no one answers, and footsteps continue in front of the ATM machine to find the balance.

[데이비드 / 시그니처 은행 고객]

″I can’t believe it. This is not what I was thinking.″

One customer grabbed a reporter and said the situation was “like a horror movie.”

[존 밴 클리프 / 자산운용사 대표]

″I almost went into a panic. We have four accounts at Signature Bank.″

(Have you ever been notified of a bank closure?) ″Not at all″

At the same time, he expressed anxiety that the bankruptcy of Silicon Valley and Signature’s two banks was only the beginning.

[존 밴 클리프 / 자산운용사 대표]

″Signature Bank is one of many banks that are going to fuck. Not only here, but also in Europe and Asia. Because there are too many risks: inflation and high interest rates.″

Silicon Valley Bank, the epicenter of the crisis, also flocked to customers looking for money when the suspension of transactions was lifted.

Federal Deposit Insurance Corporation employees were deployed at each branch to calm anxious customers.

[연방예금공사 직원]

″We are here to protect our customers. If a problem arises, we will make it as stable as possible. We will protect you up to the limit of your insurance.”

On the 10th, when Silicon Valley Bank went bankrupt, 13 trillion won was withdrawn from Signature Bank in one day, and it was closed in two days.

The stock price of First Republic Bank near Silicon Valley plunged more than 60% as rumors of a crisis came out.

The fear of a bank run that drove a bank into bankruptcy is spreading to other banks.

This is MBC News Kang Na-rim from New York.

Video editing: Changkyu Kim

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