“We take the closures of Silicon Valley Bank and Signature Bank very seriously, and we agree with the administration and members of Congress on the need to know what happened and why. With Federal Reserve, FDIC and GAO reviews ongoing, it is premature to call for rule changes by independent regulatory agencies before determining the extent to which supervisors failed to make full use of their existing regulatory tools and authority. Allowing for a thoughtful and deliberate process will yield better and more lasting results.”
About the American Bankers Association
The American Bankers Association is the voice of the nation’s $23.7 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $18.8 trillion in deposits and extend $12.5 trillion in loans.
Press Contact
All inquiries from the press can be directed to one of our press contacts.
Hi-Res photos for use by the press.
Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.
Complimentary press registrations are available for select events.
Want to be added to our news release list? Sign up here.
Get ABA press releases via RSS.