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US Fed Faces Internal Probe Over Silicon Valley Bank Failure

The Federal Reserve is investigating the factors that led to the failure of Silicon Valley Bank — including how it supervised and regulated the now-collapsed financial institution.

In a Mar. 13 announcement, the Federal Reserve outlined that Vice Chair for Supervision Michael Barr is “leading a review of the supervision and regulation of Silicon Valley Bank, in light of its failure,” with a review set for public release by May. 1.

"The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve," Chair Jerome Powell stated as part of the announcement.

"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," vice chair Barr added.

Silicon Valley Bank Federal Reserve
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