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Financial Institutions Commissioner says Puerto Rico’s banking system is sound

Natalia Zequeira Díaz said that institutions operating on the island will not be affected by the closures of Silicon Valley Bank and Signature Bank, which collapsed in a surprise move over the weekend

March 14, 2023 - 11:58 AM

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Although she assured that it is "solid," Commissioner Natalia Zequeira said that in the coming days the regulator will closely monitor the banks operating on the island to verify that they will not be affected by the closures of Silicon Valley Bank and Signature Bank. (Carlos Giusti/Staff)

By Joanisabel González

Editora de Negociosjoanisabel.gonzalez@gfrmedia.com

Financial Institutions Commissioner (OCIF, Spanish acronym) Natalia Zequeira Díaz said Monday that the banking system in Puerto Rico is “sound and safe” and should not suffer any repercussions stemming from the collapse of Silicon Valley Bank and Signature Bank now under the control of the Federal Deposit Insurance Corporation (FDIC) and regulators.