THIS STRESS WAS NOT A TEST

Everyone from President Joe Biden on down was getting a crash course on Silicon Valley Bank, the once-obscure bank that has now cast a big shadow over the financial markets. The implications of the SVB collapse are still coming into focus. Questions keep piling up. Federal authorities want answers, too. The Department of Justice and the Securities and Exchange Commission have opened investigations into the collapse. One potential focus: sales of SVB stock in the weeks before the failure by Greg Becker, chief executive officer of the bank's parent company. Biden, meanwhile, has pledged a push to tighten banking rules, which the Fed is already considering doing for midsize institutions like SVB. Federal authorities have taken the extraordinary step of guaranteeing all deposits at SVB and opening a broader emergency lending program. By midweek after the failure, the fix was holding. If it doesn't, the next move might have to be a suspension of the $250,000 limit on federal deposit insurance.