ICYMI: REP. HILL ON BLOOMBERG: "WE DO HAVE A SAFE AND SOUND BANKING SYSTEM"

LITTLE ROCK, AR, March 14, 2023

This morning, Rep. French Hill (AR-02) joined Bloomberg Surveillance to discuss the collapse of Silicon Valley Bank (SVB) and the state of banking throughout our nation.

To watch the full interview, click HERE.

Topline Quotes:

  • “Today, we're faced with a situation where I think after 10 years of easy money and amazing amounts of fiscal stimulus, I think some management teams have forgotten their prudential obligations to their depositors and their shareholders, so we have a real laxity in risk management in some of our financial institutions.”

  • “We do have a safe and sound banking system with good capital, good earnings and generally good liquidity planning across the nation - I think that's clear over the past decade."

  • “However, I think with the low interest rates at zero and then a sharp increase in short rates, some management teams were not prepared for handling that in the right way, and so we may have bumps in the road as a result of that.”

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