‘We saw with Silicon Valley Bank that with the technology we have today…runs can go further much more quickly,’ says Bank of England Governor Andrew Bailey.
Regulators have said the episode represented the first big test of the tougher banking rules that were brought in after the global financial crisis, but debate is emerging over whether the rules need tweaking.
“Today I do not believe we face a systemic banking crisis. When I look at the UK banks, they are well capitalized, liquid, and able to serve their customers and support the economy.” “We can’t assume that, going forwards, the current answer on the total size of liquidity protection is the correct one,” he said.
Banks’ holdings of liquidity have more than doubled since the global financial crisis, helping to contain fallout from the recent banking turmoil, De Cos said.
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