Silicon Valley Bank is a particularly scary failure. Here's why.

• SVB had almost 90% of its deposits uninsured by the FDIC.
• Bank of America has about 32% of its deposits uninsured via this US government backstop.
• This made SVB especially vulnerable to a bank run. And the cleanup could be messier than usual.

The collapse of Silicon Valley Bank is no normal bank failure. SVB Financial was a special kind of financial institution, and this was one reason for its demise.