SVB's Greg Becker previously asked Congress to ease regulatory oversight on the bank, citing its own 'strong risk management practices'
In 2015, he wrote to the Senate asking that regional banks, including SVB, be spared from rules in the Dodd-Frank law that was created in the aftermath of the global financial crisis, saying they created significant burdens without producing any regulatory benefit.
Instead, SVB's core business is"traditional banking," meaning taking in deposits and lending out money, he added. He also said that Congress should lift a financial threshold at which banks would be subjected to stricter standards, such as stress tests and capital requirements. This would trigger when a bank reached $50 billion in assets, which SVB at the time was on the brink of crossing.
He said the threshold should be lifted to at least $100 billion and as much as $250 billion, adding that SVB already had sufficient risk management in place while more regulation would divert resources away from job creation, especially given that his bank invested heavily in startups and venture capital.
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