(Bloomberg) -- Charles Schwab Corp. climbed Tuesday, paring the prior day’s decline, after Chief Executive Officer Walt Bettinger told CNBC that he bought 50,000 shares for his own account.

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The stock rose 9.2% to close at $56.68, rebounding from a 12% swoon Monday, when the firm sought to reassure investors that it has sufficient liquidity to weather the fallout from the collapse of Silicon Valley Bank.

“Our bank is very conservatively managed,” Bettinger told CNBC. “If you look into the holdings of the bank, we have about 10% of client deposits outstanding in loans.”

Schwab, like Silicon Valley Bank, has a large investment securities portfolio and is sitting on significant paper losses in its held-to-maturity books. The firm transferred almost $189 billion of securities to a held-to-maturity basis in 2022, and had $14 billion of unrealized losses on that portfolio of agency mortgage-backed securities at year-end. Unlike SVB, however, most of Schwab’s customer deposits are insured by the Federal Deposit Insurance Corp.

(Updates with closing share price in second paragraph.)

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