Buffett says SVB deposits had to be covered - Breaking The News

Buffett says SVB deposits had to be covered

6 May

1 min read

EPA/LARRY W. SMITH

Berkshire Hathaway Inc.'s CEO Warren Buffett said that if deposits in Silicon Valley Bank (SVB) had not been covered it could have had catastrophic consequences.

The billionaire investor noted the Federal Deposit Insurance Corporation (FDIC)'s response was critical in preventing a chain reaction throughout the financial system.

Buffet made the remarks at a Q&A session with shareholders on Saturday.

warren buffett berkshire hathaway svb banking crisis

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