McKernan Underscores Problems With FDIC’s Systemic Risk Exception

In the last few weeks, federal officials have released a flurry of reports and statements related to the Silicon Valley Bank and Signature Bank failures. There’s no shortage of interesting information in those documents, but so far there’s only one that rises to the level of must-read.

Hands down, that title goes to the May 11 statement released by Federal Deposit Insurance Corporation board member Jonathan McKernan.