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US FDIC's Hill addresses recent bank failures

( April 12, 2023, 18:52 GMT | Official Statement) -- MLex Summary: US Federal Deposit Insurance Corporation Vice Chairman Travis Hill spoke on the failure of Silicon Valley Bank and ways to avoid similar collapses. Hill noted that interest rate risk can be addressed by requiring banks to hold capital against some or all unrealized losses on their bond investments, on top of supervision. “It is possible that moving aggressively in this direction would have reduced the likelihood of SVB’s failure, as it may have forced the bank to address its core problem sooner: either by raising more capital or by reducing the maturity of its assets,” he said. As to finding acquirers for failed banks, Hill said the FDIC not only needs to be open to all bidders, but it also needs to act with urgency and initiative to solicit bids and make a deal happen.See document below. ...

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