SF Fed Bank Pres: I Wasn't 'Regularly Aware' of SVB Problems, That's 'a Feature' So We Could Have SVB's CEO on Board

On Thursday's broadcast of CNBC's "Squawk on the Street," Federal Reserve Bank of San Francisco President and CEO Mary Daly stated that she was "not regularly aware" of the problems with Silicon Valley Bank (SVB) and said that doing this is "a feature of the system" that makes it so that people like former SVB CEO Greg Becker can "sit on our Board and not be concerned that there's crossover."