‘Utter Incompetence’: European Officials Accuse US Of Ripping Up Banking Rules With SVB Bailout
March 17, 2023 No Comments
European financial regulators have ripped their American counterparts’ decision to bail out Silicon Valley Bank (SVB) in the wake of its collapse, claiming they violated their own standards in doing so, according to the Financial Times. They are particularly frustrated at the decision to cover all deposits when they were only supposed to guarantee up to $250,000.
