The Federal Reserve will conduct a review of the collapse of Silicon Valley Bank — including any possible regulatory or supervisory missteps — with results to be publicly released by May 1, the central bank said.
: The review will be led by Michael Barr, the Fed's vice chair for supervision, who was confirmed to the post last summer.: “We need to have humility, and conduct a careful and thorough review of how we supervised and regulated this firm, and what we should learn from this experience,” said Barr.
“The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve,” chair Jerome Powell said in a statement.The Fed moved to loosen certain regulations for mid-sized banks in 2019, which then-Fed governor Lael Brainard Those moves are top-of-mind for some Democratic lawmakers who are pinning the blame of recent bank collapses in part on the regulatory rollbacks.
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