In the wake of two historic U.S. bank failures, the Wisconsin Bankers Association says the banking system overall and Wisconsin banks are safe, sound, and resilient. Two large banks that cater to the tech industry have collapsed after a bank run and government agencies are taking emergency measures to backstop the financial system. Executive vice president of the Wisconsin Bankers Association, Daryll Lund, says the business model of the failed banks is completely different from Wisconsin banks. So will the government’s response work? Lund says it provided certainty for customers at those banks. Lund says the customer base of Wisconsin banks is much more diversified and the overall balance sheet management of Wisconsin banks is significantly different. He says Wisconsin banks are well capitalized and remain on solid footing.
