The collapse of three US regional banks - First Republic Bank, Silicon Valley Bank, and Signature Bank - marked some of the largest failures in the banking system since 2008. Central banks contained the "mini-crisis" earlier this year with forced interventions and the mega-merger of Credit Suisse and UBS. Despite the interventions, global banks still axed the most jobs since the global financial crisis.

Turns out, the biggest short in the banking industry anywhere in the world isn’t in Switzerland or Silicon Valley, but rather, in the relatively tame financial center of Canada.

Charles Schwab shares fell on Monday even as the financial institution defended its portfolio, easing fears of a banking crisis in the aftermath of tech-focused Silicon Valley Bank’s and crypto-related Signature Bank’s collapses.