In the wake of the Silicon Valley Bank collapse, Delano talked with Claude Wampach from the Luxembourg Financial Sector Supervisory Commission (CSSF) to hear about differences in regulation between the US and Europe, and whether such a situation could happen in Europe. While the financial system bears risks, in Europe, mitigating regulations are in place.
On Friday, March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (“SVB”) and appointed the Federal Deposit Insurance Corporation.