KNTV NBC Nightly News With Lester Holt June 4, 2024 23:11:00
Tom costello has been looking this new report over. tom, the fed essentially admitting it failed here. >> reporter: that's right. the fed says there's plenty of blame to go around in the failure of svb. it says first this is a textbook case of bank mismanagement, and in a mea culpa the fed said it also failed. government regulators did not understand the depth of the bank's problems and were far too slow to react. one big issue, the fed's very bureaucratic regulatory oversight system. the fed is now considering whether to require banks to have more cash on hand and tougher regulatory rules, le...