Fed launches supervision review in wake of SVB collapse
Vice-chair for supervision says central bank needs to show “humility” after bank failure
The Federal Reserve said it would conduct a review of its supervision of Silicon Valley Bank, after the mid-sized lender collapsed late last week, spreading panic through markets.
“The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve,” said Fed chair Jerome Powell in a statement.
The US authorities placed SVB into receivership on March 10. Unable to find a buyer over the weekend, they opted instead to insure the bank’s depositors in
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