Collapse of SVB, Signature Bank Tests the FDIC’s Executive Reserve Corps

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Collapse of SVB, Signature Bank Tests the FDIC’s Executive Reserve Corps
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or years no one needed to tap the FDIC’s reserve corps of industry veterans who could parachute in when a bank collapsed. That changed the weekend of March 12.

Tim Mayopoulos was squashed into a middle seat in coach on his flight to San Francisco, the only one available when he booked that afternoon.

The Wi-Fi wasn’t working, so he pulled out a notepad to jot down what he would say to employees when he started his new job as chief executive of theAround the same time that Sunday evening, Greg Carmichael walked into Signature Bank’s Midtown Manhattan headquarters. The employees on site had just learned the Federal Deposit Insurance Corp.Continue reading your article with

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