When Silicon Valley Bank (SVB) collapsed in March 2023, some policymakers pointed to S. 2155 (passed in 2018) as a cause for the bank’s failure. The Biden White House subsequently released a statement calling for the reversal of the previous Administration’s banking reforms. This report explains how the tailored liquidity rules implemented under S. 2155 did not cause the failure of SVB. The pre-S. 2155 liquidity rules would not have positioned SVB to withstand the significant deposit outflows it faced in March 2023 ($142 billion in two days). Withstanding those outflows would have required a 200% liquidity coverage ratio (LCR), double the pre-S. 2155 requirement. A 100% LCR would have reduced SVB’s illiquidity risk by less than 1%.