Fed Governor Bowman Says US Banking System Remains ‘Resilient’

Federal Reserve Governor Michelle Bowman said America’s banking system remains on steady footing even after the collapse of Silicon Valley Bank and state regulators’ seizure of Signature Bank.

“The US banking system remains resilient and on a solid foundation, with strong capital and liquidity throughout the system,” she said in a prepared speech Tuesday. “The board continues to carefully monitor developments in financial markets and across the financial system.”