The Daily Money: Which bank could be the next to fail?

Happy Monday! I'm Elisabeth Buchwald and boy is it nice to have a break from March Madness games. And yes, in case you're wondering, my bracket is completely busted so I'm basically just rooting for the underdogs who are left (go tigers!). 

Anyway, there's another bout of March Madness going on that doesn't involve basketball and unfortunately, it doesn't seem to be taking any breaks. 

Over the weekend, UBS took over Swiss banking giant Credit Suisse for $3.2 billion to quell financial markets that have been rattled by the collapse of Silicon Valley Bank and Signature Bank.

This came after the Swiss government loaned around $54 billion to Credit Suisse last week to shore up liquidity. Over the weekend the Swiss government pledged an additional $9 billion "in order to reduce any risks for UBS"  and "potential losses arising from certain assets that UBS takes over as part of the transaction."

What's the next SVB?

After Signature Bank and SVB, many people are wondering which bank could be the next to fail. 

A recent study found that close to 190 banks could find themselves in a similar fate to SVB and Signature if only half of their depositors decide to withdraw their funds.

Part of the reason why is the Federal Reserve's rate hikes which have eroded the value of bank assets such as government bonds and mortgage-backed securities. That means that banks have fewer assets to back depositors' money should they want to withdraw it.

A run on these banks could pose potential risk to even insured depositors — those with $250,000 or less in the bank — as the FDIC’s deposit insurance fund starts incurring losses, according to the economists who authored the study.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

Elisabeth Buchwald is a personal finance and markets correspondent for USA TODAY. You can follow her on Twitter @BuchElisabeth.