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McHenry Statement on Regulator Actions Regarding Silicon Valley Bank

Washington, Mar 12 -

Today, House Financial Services Committee Chairman Patrick McHenry (NC-10) issued the following statement after the Federal Reserve, Treasury Department, and Federal Deposit Insurance Corporation (FDIC) announced actions regarding Silicon Valley Bank (SVB):

“This was the first Twitter fueled bank run. At this time, it is important to remain levelheaded and look at the facts—not speculation—when assessing the right path forward," said Chairman McHenry. I have confidence in our financial regulators and the protections already in place to ensure the safety and soundness of our financial system.”

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