Former FDIC Chair Sheila Bair said regional banks appear to be stable overall but urged regulators to provide more clarity about the reasoning behind their actions.
on Monday and told host Liz Claman that she thinks the regional banking system is "reasonably stable" and added, "The problem with these systemic risk exceptions is that they kind of suggest that there’s something bigger and broader going on."
Bair explained, "I think we need better clarity and communication on this as to what the concern is, and if there is a concern that we will have wide-scale runs on uninsured deposits – I don’t see that – but if the regulators are seeing that, I think they do something truly systemic, not just these one-off things for a couple of banks because that just puts pressure on the other banks who don’t have the systemic risk designation.
An FDIC sign is posted on a window at a Silicon Valley Bank branch in Wellesley, Massachusetts, on March 11, 2023.
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