Fed report on SVB collapse faults bank’s professionals — and central financial institution regulators

Fed report on SVB collapse faults bank’s professionals — and central financial institution regulators


Important Factors
  • Mismanagement and supervisory failures, compounded by a dose of social media frenzy, combined to deliver down Silicon Valley Lender, the Fed explained in a report Friday.
  • Michael S. Barr, the Fed’s best lender supervisor, named for variations in the way regulators tactic the nation’s intricate and interwoven financial process.
  • Fed Chair Jerome Powell reported he welcomed the Barr probe and its internal criticism of Fed steps during the disaster.



Source

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