I would echo what my colleague said: clear communication not on day one but on minute one. This was a minute-by-minute, hour-by-hour crisis and in the world of banking, you never want to use the R-word, the run. There was nothing like that, but there were whispers that people were starting to show up making large withdrawals in those key early days—the Monday and the Tuesday of that week—before it became clear later that week, because it was not yet clear. Eventually, it became clear that it was very targeted, but it was not yet clear in the early days how targeted it was meant to be and people in that situation in some cases assumed the worst.
On November 17th, 2022. See this statement in context.