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Business Daily: The US banking system on life support

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The US banking system on life support

05/06/2023 GMT

BBC World Service - Business Daily, The US banking system on life support

Meet Tim Mayopoulos, the "financial first responder" brought in to protect SVB customers

When Silicon Valley Bank collapsed, the banking regulator, FDIC put the institution on life support and Tim Mayopoulus was brought in to run it while a buyer was found.

In March 2023 Silicon Valley Bank collapsed. It was the second largest banking failure in US history. The regulator, the FDIC, fired the management team and brought in a new person to run the institution while a buyer was found.

As the former CEO of Fannie Mae, Tim Mayopoulus has experience of steering a bank through financial turmoil. 

He speaks to Sam Fenwick about how he steadied the nerves of SVB employees, customers and the global banking sector.

Producer/presenter: Sam Fenwick

(Photo: Man walking past SVB branch. Credit: Getty Images)

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