Berkshire Hathaway chairman and CEO Warren Buffett believes that the recent banking crisis, headlined by the rapid collapse of Silicon Valley Bank and Signature Bank, isn’t over just yet. “We’re not through the bank failures,” the Oracle of Omaha told CNBC Wednesday in an interview from Tokyo. But the 92-year-old billionaire noted that consumers shouldn’t worry about their savings after regulators at the Federal Reserve, FDIC, and Treasury Department used the “systemic risk exception” to backstop all depositors at failed U.S. banks last month.
“Depositors haven’t had a crisis,” he said, adding that, with regulators’ backing, “banks can go bust, but depositors aren’t going to be hurt.”
