U.S. Lawmakers Met With Fed, FDIC to Discuss Collapse of Silicon Valley Bank: Source

“I’m alarmed by the failure of Silicon Valley Financial institution, which marks the second largest financial institution failure in U.S. historical past,” she mentioned in an announcement. “I’m carefully monitoring and convening Committee members with regulators so myself and members can perceive the newest across the closure of Silicon Valley Financial institution (SVB) by the California Division of Monetary Safety and Innovation (DFPI), and the Federal Deposit Insurance coverage Company (FDIC) appointed as receiver. I admire the DFPI and the FDIC for taking decisive motion in the present day, and I stay assured in America’s monetary markets and the power of our regulators to guard shoppers and traders.”