Industry leaders were taking stock after the collapses of Silicon Valley Bank and Signature Bank and trying to differentiate solid institutions from troubled ones, executives said at a conference in Las Vegas.
"We are still taking stock of what happened and making sure that we're prepared for what's to come and helping consumers work through that," said Johnson, whose industry association has 73 member banks that held more than in $15 trillion in assets as of 2021. The general view was that the recent bank collapses were "isolated events and unlikely to spread", said an executive from a large lender who declined to be identified because they were not authorized to speak publicly.
Regulators also drew attention to the need for managing risks at non-banks similar to banks. Consumer Financial Protection Bureau Director Rohit Chopra said regulators were focused on maintaining stability of the financial system., which was later bought by a subsidiary of New York Community Bancorp, shook public confidence in banks and prompted unprecedented government action to shore up the sector. A broader S&P index of bank shares has fallen 14% this year.