After the high-profile failures of Silicon Valley Bank and Signature Bank, Federal Reserve Bank of Minneapolis President Neel Kashkari argued requiring banks to have higher capital levels could be the best solution to addressing the underlying weakness in the banking system.
"[It's] our only chance to build real resilience in our financial system," he said in an essay published Monday on the Minneapolis Fed's website.
Kashkari reflected on the three massive government interventions in the past 15 years: the financial meltdown of 2008, the response to the COVID-19 pandemic and the bank collapses, including most recently of First Republic.
