"Reflections on Regional Banks and Neobanks Post-SVB Collapse"
Bruce Van Saun, CEO of Citizens Financial Group, discusses the aftermath of the collapse of Silicon Valley Bank and the challenges faced by regional banks in the wake of the banking crisis. He attributes the failures to rapid growth, high uninsured deposits, and poor risk management. Van Saun emphasizes the joint responsibility of bank management and financial supervisors in preventing such failures. He also shares insights on the impact of the crisis on Citizens Financial Group and the changes in their business model. Additionally, he comments on New York Community Bank's situation and addresses concerns about potential banking stress related to commercial real estate loans.