I've seen a bit of discussion about concerns around office property mortgage and such (e.g. JP Morgan wanting to be insulated about losses on outstanding loans) for FRB which seem concerning as a post-Covid systemic risk.
I wonder if the consumer deposit side, though, has a lot to do with an unanticipated risk of the particular business model SVB and FRB were using: higher-income people. Sounds great - less risk of defaulting on loans - but then you are highly-concentrated in larger deposits for a smaller total population (larger meaning less insured, so easier to spook; smaller population means the panic doesn't have to spread as far)... so it works well for decades and is seen as something to aspire to... until it suddenly doesn't.
I wonder if the consumer deposit side, though, has a lot to do with an unanticipated risk of the particular business model SVB and FRB were using: higher-income people. Sounds great - less risk of defaulting on loans - but then you are highly-concentrated in larger deposits for a smaller total population (larger meaning less insured, so easier to spook; smaller population means the panic doesn't have to spread as far)... so it works well for decades and is seen as something to aspire to... until it suddenly doesn't.