The collapse of Silicon Valley Bank (SVB) was the fault of US President Joe Biden's administration, Donald Trump has claimed, warning it could lead to a new Great Depression in the United States. Bernie Sanders has blamed a Trump-era banking law for the failure, which was the most significant change to US banking regulations since the 2010 Dodd–Frank Act. The bill exempted smaller banks from strict regulations and relaxed rules for big lenders, and raised the asset threshold for 'systematically important financial institutions' from $50 billion to $250 billion. SVB ended 2022 with $209 billion in assets, which means it was no longer classified as a systematically important financial institution.
