White House: have faith in regulators when asked about SVB Financial

WASHINGTON, March 10 (Reuters) - The White House on Friday said it had faith and confidence in U.S. financial regulators, when asked about the failure of SVB Financial Group (SIVB.O), the largest bank failure since the 2008 financial crisis.

Cecilia Rouse, who chairs the Council of Economic Advisers, expressed confidence in regulators when asked about the institution, which was shut down on Friday by a California banking regulator.

Rouse said the U.S. banking system was fundamentally stronger than it was during the 2008 financial crisis.

Reporting by Jeff Mason and Andrea Shalal; Editing by Franklin Paul

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

White House: have faith in regulators when asked about SVB Financial

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio