FDIC Chief Says US Ready If Big Wall Street Bank Ever Failed

The head of the Federal Deposit Insurance Corp. says the US would be prepared to handle any collapse of a major Wall Street bank.

FDIC Chairman Martin Gruenberg on Wednesday laid out a blueprint for how regulators would deal with such a failure and seek to minimize costs. He discussed preparations for a hypothetical scenario rather than any immediate threat.

US regulators, including the FDIC, have faced pressure to bolster their preparedness since the sudden demise of Silicon Valley Bank in March 2023. Meanwhile, the plight last year of Credit Suisse Group AG highlighted the tough decisions that officials would ...