Warren Buffett has been talking to the Biden administration amid the banking crisis, per Bloomberg.
The billionaire talked to officials about a possible investment in regional banks.
Buffett has previously stepped in to help banks in crisis and also offered advice, per the report.
Warren Buffett has been talking to the Biden White House about a possible investment in regional banks, Bloomberg reported.
The billionaire investor and Berkshire Hathaway CEO had multiple conversations with senior officials in the Biden administration in the past week following the collapse of Silicon Valley and Signature banks and the problems facing First Republic.
Buffett also offered advice and guidance on the situation, according to unnamed sources who spoke to Bloomberg.
Silicon Valley Bank was taken over by the Federal Deposit Insurance Corporation on March 10 and was the biggest failure since the 2008 financial crisis.
Biden told investors in SVB and Signature they wouldn't be bailed out, sending regional bank stocks sliding last week.
Despite saying its liquidity remained "very strong," First Republic shares collapsed by almost 80% last week. A move Thursday by banks including JPMorgan, Bank of America, Citigroup, and Wells Fargo to deposit a collective $30 billion failed to stabilize the stock.
An investment by Buffett could help restore confidence without bailing investors out directly, Bloomberg reported.
Meanwhile, North Carolina-based lender First Citizens is contemplating making an offer for SVB, Bloomberg reported. The FDIC is expected to decide Sunday whether it will pursue a full sale or a breakup of the failed lender.
Berkshire Hathaway, First Citizens, and the FDIC didn't immediately respond to requests for comment from Insider, made outside normal working hours.
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