(Reporting by Ann Saphir; Editing by Chizu Nomiyama)
April 20 (Reuters) - The unprecedented speed at which
depositors pulled their money from Silicon Valley Bank outpaced
the ability of the Federal Reserve to act as lender of last
resort, underscoring the need for faster processing of emergency
loans, Fed Governor Christopher Waller said on Thursday.
Since the run on SVB that forced regulators to shut it down,
"things have kind of calmed down" in the banking sector, Waller
said. "That's the one thing about a bank run - it's a panic;
once it stops, there's no real fundamental damage to the economy
or the banking system per se."
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