Crucial Details
- Fed Governor Michael Barr, the central bank’s vice chair for supervision, introduced organized remarks that he will produce to two congressional panels concerning the failure of Silicon Valley Bank.
- “To get started, SVB’s failure is a textbook scenario of mismanagement,” he said.
- Beyond that, Barr stated he sights the wellbeing of the banking process in normal as “audio and resilient, with solid capital and liquidity.”
