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Former US Treasury Secretary Says SVB Collapse Will Not Pose Systemic Risk to Financial System

Former US Treasury Secretary, Lawrence Summers, has expressed that he does not anticipate SVB Financial Group's recent collapse to pose a systemic risk to the financial system, during an interview with Bloomberg.

Silicon Valley Bank has been shut down by regulators, specifically the Federal Deposit Insurance Corporation (FDIC), in order to protect insured deposits.

Former US Treasury Secretary Lawrence Summers says he doesn't expect SVB Financial Group's meltdown to pose a "systemic risk" to the financial system https://t.co/FIzi0SGcje pic.twitter.com/sebO18pyjV
— Bloomberg Markets (@markets) March 11, 2023

SVB Silicon Valley Bank

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Former US Treasury Secretary Says SVB Collapse Will Not Pose Systemic Risk to Financial System

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German parliament passes Financial Market Digitalization Act

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