European regulators criticise US ‘incompetence’ over Silicon Valley Bank collapse

Financial Times/Laura Noonan/3-17-2023

“Europe’s financial regulators are furious at the handling of the Silicon Valley Bank collapse, privately accusing US authorities of tearing up a rule book for failed banks that they had helped to write.”

USAGOLD note: One eurozone official called the US bailout of uninsured deposits “total and utter incompetence.”