The Link Between Bank Failures and Technology: Insights from Billionaire Bill Ackman.
Banks have a tendency to fail on Fridays, which allows regulators enough lead time to plan a takeover and time it to go down when most folks are relaxing over the weekend. Regulators would prefer not to freak out customers and spread panic. The ultimate goal is to get the institution cleaned up and ready to reopen on Monday morning, ideally under new ownership. However, a bank failure can happen any day of the week, especially when problems arise suddenly.