Regulators in the US may face harsh questions from congressional committees regarding the rapid collapse of Silicon Valley Bank and Signature Bank in early March. In this respect informs Reuters.
Senior regulators from the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Treasury will testify before congressional committees about the rapid collapse of two banks that have further eroded investor confidence in the banking industry.
The publication noted that regulators have promised to review operating principles and rules, insisting that the banking system in general is under reliable protection. For example, Fed and FDIC officials have said that depositors’ money is safe and secure. They also added that they are examining all possible causes that could lead to the bankruptcy of banks.
Regulatory agency representatives evaluated that the rules for banks should be tightened and control over firms should be strengthened in order to avoid possible problems in the banking sector in the future.
On March 26, against the backdrop of the collapse of banks across Europe, Financial Times readers declarationthat it is no longer necessary to change the model of the banking system until it completely disappears.
Source: Gazeta
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