SVB Failure Spurs Fed Soul-Searching, Political Blame Game
James Stevens, co-leader of Troutman Pepper's Financial Services Industry Group, was quoted in the March 13, 2023 Law360 article, " SVB Failure Spurs Fed Soul-Searching, Political Blame Game."
Although most small-to-midsize banks are unlikely to have the same business models and funding profiles that SVB and Signature did, James Stevens of Troutman Pepper said even their liquidity risks will probably be looked at with "enhanced scrutiny" after this past week's events.
"I don't know that we'll need to have a lot of new rules and requirements, but just more vigilance around the existing framework that we're operating in," said Stevens, who is co-leader of Troutman Pepper's financial services industry group.
"Banks do need to have liquidity on hand to meet the anticipated demands that their business could cause, and I think everybody is going to be taking a harder look at that," he added.