Federal Reserve Vice Chair for Supervision Michael Barr does not see liquidity pressures in the U.S. banking system, he said on Friday.
“The banking system overall is quite sound and resilient, and we’re not seeing liquidity pressures in the system,” Barr said at an event at the University of Michigan Law School.
He added that “we’re not seeing the kind of stress that we saw last March,” when a run on deposits left Silicon Valley Bank insolvent.
This is a developing story. Check back for updates.