Charles Schwab CEO says could ride out deposit flight, WSJ reports

After the collapse of several regional banks this month, Charles Schwab has begun pushing back against fears it could face similar problems as paper losses on its bondholdings mount, Justin Baer and Charley Grant of The Wall Street Journal reports. Charles Schwab co-chairman and CEO Walt Bettinger told the Journal in an interview that the company could continue to operate even if it lost most of its deposits over the next year. "There would be a sufficient amount of liquidity right there to cover if 100% of our bank’s deposits ran off," said Bettinger, referring to the company’s banking unit. "Without having to sell a single security." Bettinger said the company could engage in a number of strategies to plug funding shortfalls, such as collecting interested paid on bonds it owns, according to the Journal. Reference Link