A bank CEO explains how the Silicon Valley Bank failure could actually build trust in the system and why it'll have little impact on Fed policy
Silicon Valley Bank's failure and regulators' response could ultimately boost Americans' confidence in the financial system, according to Tut Fuller, the founder and chief executive of Capra Bank, a community bank in Iowa., and the Federal Reserve, Treasury, and FDIC issued a joint statement Sunday reassuring depositors that they would be made whole, and that taxpayers wouldn't bear the cost of the clean up.
With SVB and Signature Bank marking the first and second major bank failures since 2008, the Iowa executive said the next handful of are"somewhat obvious." Beyond those, he noted that roughly 20 regional banks are likely to feel some pain, but will emerge without failing. "Those with significant deposit outflows over the past few quarters and thus can't organically grow or hold deposits, and those that are more concentrated in their Top 100 depositors probably top that list," Fuller said.
Plus, the intervention from regulators this weekend is a step toward prioritizing everyday bank customers who had assumed their money would be safe.
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