Michael S. Barr: “Our role is to ensure that the financial system is resilient to risks. Those logically could include climate risks, and…”

The failure of SVB illustrates the need to move forward with our work to improve the resilience of the banking system.

We need to not only arrest individuals such as those in Woodford County who traffic this potent deadly drug, but also find and eliminate the source of production and financing.

I want to know what the bank executives were doing in the months, weeks, and days leading up to this failure.

I can say the banking system is sound and resilient. I think that was really the right thing to do.