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Larry Summers Expects No 'Systemic Risk' From SVB Meltdown

Former Treasury Secretary Larry Summers feels that the meltdown of Silicon Valley Bank won't pose a systemic risk to the economy due to its small size and the banking sector's financial health.

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  • Former Treasury Secretary Larry Summers believes that the meltdown of Silicon Valley Bank (SVB) won't pose a systemic risk to the economy.
  • Summers feels the meltdown will be contained, due to the bank's small size and the overall financial health of the banking sector.
Larry Summers Expects No 'Systemic Risk' From SVB Meltdown
Former US Treasury Secretary Lawrence Summers says he doesn't expect SVB Financial Group's meltdown to pose a "systemic risk" to the financial system. “I don’t see — if this is handled reasonably, and I have every reason to think that it will be — that this will be a source of systemic risk," he says on Bloomberg Television’s “Wall Street Week” with David Westin. (Source: Bloomberg)
Bloomberg

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