- Treasury, Fed, FDIC actions reduced risk of further bank failures that would have imposed losses on deposit insurance fund
- Similar actions to protect depositors could be warranted if smaller institutions suffer deposit runs that pose risk of contagion
- Aggregate deposit outflows from regional banks have stabilised
- Fed is working to provide liquidity to banking system, which is stabilising
This is just a rehash of their commitment to safeguard bank deposits. For now, we might turn the page to the next chapter. But we shall see whether or not lawmakers, policymakers and regulators alike will have learned anything from this episode.