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The U.S. Federal Reserve's internal watchdog has launched a probe into the failure of Silicon Valley Bank, Bloomberg News reported on Tuesday, citing a spokesman.... | March 28, 2023
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Benchmark indices rise as investors hope interest rates have peaked
Michael Barr said the US central bank’s board had been briefed on troubles at the California lender in mid-February.
The Fed's vice chair for supervision, Michael Barr, says he is “committed” to finding “any supervisory or regulatory failings” that led to SVB's collapse.
Sen. Tim Scott, R-S.C., and others on the Banking Committee have requested CAMELS scores for the failed bank and various other supervisory information from the Fed.