April 18, 2023

Two Executives On What It's Like to Stop a Bank Run

by The Journal

In 2017 the FDIC created a pool of banking veterans who would step up to help in the event of another financial crisis. For years, no one needed them. That changed last month when Tim Mayopoulos and Greg Carmichael were called in to run Silicon Valley Bank and Signature Bank while the FDI tried to stabilize a banking crisis.

Further Reading: 

-Collapse of SVB, Signature Bank Tests the FDIC’s Executive Reserve Corps 

-Help Wanted: Regulators Seek Executives to Staff Failed Banks 

-Signature Bank Is Shut by Regulators After SVB Collapse 

-Silicon Valley Bank Closed by Regulators, FDIC Takes Control 

Further Listening:

-Can the Government Contain a Banking Crisis 

Where to Listen