Tags: fdic | svb

FDIC Official Blames SVB Demise on Management

FDIC Official Blames SVB Demise on Management
A Silicon Valley Bank branch in Santa Monica, California (Patrick T. Fallon/Getty Images)

Wednesday, 12 April 2023 12:15 PM EDT

Stricter banking regulations would not have prevented Silicon Valley Bank's sudden collapse last month, a top official at the Federal Deposit Insurance Corporation said Wednesday, highlighting instead management failures behind its demise.

Regulators were unable to quickly sell Silicon Valley Bank last month in part because the bank could not quickly provide key data for potential bidders, FDIC Vice Chairman Travis Hill said in his first public remarks since being sworn into the role earlier this year.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
Stricter banking regulations would not have prevented Silicon Valley Bank's sudden collapse last month, a top official at the Federal Deposit Insurance Corporation said Wednesday, highlighting instead management failures behind its demise.
fdic, svb
77
2023-15-12
Wednesday, 12 April 2023 12:15 PM
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