By Hannah Lang
WASHINGTON (Reuters) – Stricter banking regulations would not have prevented Silicon Valley Bank’s sudden collapse last month, a top official at the Federal Deposit Insurance Corporation said on Wednesday, highlighting instead management failures behind its demise.
Regulators were unable to quickly sell Silicon Valley Bank last month in part because the bank could not quickly provide key data for potential bidders, FDIC Vice Chairman Travis Hill said in his first public remarks since being sworn into the role earlier this year.
(Reporting by Hannah Lang; Writing by Chris Prentice; Editing by Lananh Nguyen)
