SVB, Banking Risks, and the Economy

Apr 11, 2023, 12:20 pm1:20 pm
  • Open to the public
  • Princeton University faculty, staff, and students



Event Description

Registration required

Open to Princeton University ID holders and invited guests. Livestream open to the public. Lunch will be served starting at noon.

The Silicon Valley Bank (SVB) failure came as a surprise to many economic observers and triggered a chain of events that revealed broader risks in the banking sector and the economy. SVB was among several U.S. financial institutions including Silvergate, Signature, First Republic that were shuttered by federal regulators within days of each other. All this was quickly followed by the demise of Credit Suisse, a major international bank. What does this episode reveal about the risks within the banking sector and potential risks to global financial stability? Join us for a panel with three distinguished Princeton scholars to discuss what happened, the policy responses, and longer-term economic impacts.


(moderator) Pallavi Gogoi is a Visiting Lecturer in the Humanities Council and Ferris Professor of Journalism at Princeton University. She is managing editor at National Public Radio, where she oversees the network’s daily news report. She is an award-winning editor, reporter and writer who has covered business and economic news for more than 25 years in print, broadcast, magazine, newspaper and radio journalism. Before joining NPR, Gogoi was a senior editor at CNN, and she previously worked as a reporter at The Associated Press, USA Today, Business Week and Dow Jones/The Wall Street Journal.

Atif Mian is John H. Laporte, Jr. Class of 1967 Professor of Economics, Public Policy and Finance at Princeton University, and Director of the Julis-Rabinowitz Center for Public Policy & Finance at the Princeton School of Public and International Affairs. He studies the connections between finance and the macro economy. His book, House of Debt (co-authored with Amir Sufi) builds upon powerful new data to describe how debt precipitated the Great Recession, why debt continues to threaten the global economy and the policy implications of fixing the financial system. House of Debt has received critical acclaim from The New York TimesFinancial TimesThe Wall Street Journal, The Economist, and The Atlantic, among many others. Professor Mian's research has appeared in top academic journals, including the American Economic Review, Econometrica, Quarterly Journal of EconomicsJournal of FinanceReview of Financial Studies, and the Journal of Financial Economics. Prior to joining Princeton in 2012, he taught at the University of California, Berkeley, and the University of Chicago Booth School of Business.

Carolyn A. Wilkins is Visiting Research Scholar at the Griswold Center for Economic Policy Studies at Princeton University. She is an external member of the Financial Policy Committee at the Bank of England (2021-2024). Wilkins also serves on the Board of Directors at Intact Financial Corporation, a company that provides property and casualty insurance in Canada and specialty insurance in North America. Previously, Wilkins had a twenty-year career at the Bank of Canada (2000-2020). She served as its senior deputy governor from 2014 to 2020. Her role included setting monetary and financial system policies with the Governing Council, and overseeing strategic planning and economic research. Wilkins led the development of the Bank of Canada’s market liquidity facilities and large-scale asset purchase program as part of its response to COVID-19. She has contributed to international financial policies over her career, most recently as the Bank of Canada’s G20 and G7 deputy and member of the Financial Stability Board. She has published and spoken on a broad range of international issues, including economic resilience, global financial regulation, and fintech. Wilkins received her BA in economics from Wilfrid Laurier University and her MA in economics from the University of Western Ontario.

  • Griswold Center for Economic Policy Studies
  • Julis-Rabinowitz Center for Public Policy & Finance