None of the banks that went bankrupt had previously gone through the stress test conducted by the Federal Reserve. The problem with SVB is not the stress test, but the liquidity of the large amount of assets held by banks in extreme situations is far weaker than that of investment banks and other institutions that bear risks every day. Banks must use the money they receive to allocate interest rate sensitive products in the market, while investment banks have to consider the possibility of taking unlimited risks every day (I think everyone still remembers Bill Huang’s position collapse..)