SF Fed Bank Pres. on Failure to Spot SVB's Problems: We Need Fixes, But Most Banks Managed Risk Well

On Thursday's broadcast of CNBC's "Squawk on the Street," Federal Reserve Bank of San Francisco President and CEO Mary Daly responded to a question on why the weaknesses in Silicon Valley Bank weren't identified by stating that while there are some changes needed, the overwhelming majority of banks "did manage their risks well."