House Financial Services Committee Ranking Member Maxine Waters (D-CA) called on regulators to complete a “long over due” rulemaking on incentive based compensation following the closure of Silicon Valley Bank and Signature Bank.

SEC Commissioner Caroline A. Crenshaw responded to reports that retail investors may be unable to exercise put options purchased on Silicon Valley Bank and Signature Bank stock.

The FDIC extended the bidding process for Silicon Valley Bridge Bank, N.A. in order to "maximize value and achieve an optimal outcome" following "substantial interest from multiple parties."

The FDIC entered into a purchase and assumption agreement with Flagstar Bank, N.A. to sell most deposits and certain loan portfolios of Signature Bridge Bank, N.A.

President Joseph R. Biden vetoed a resolution by Congress to disapprove the DOL's final rule explicitly allowing ERISA plan fiduciaries to consider environmental, social and governance factors when selecting investments and exercising certain shareholder rights.