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Fed’s Barr Says Silicon Valley Bank Failed Because It Didn’t Address Clear Risks
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The Federal Reserve’s top banking regulator blamed the executives of Silicon Valley Bank for the firm’s failure and said central bank officials privately gave the bank poor ratings for its management in the lead-up to its March 10 collapse.
Michael Barr, the Fed’s vice chairman for banking supervision, pointed to what he said was the bank’s mismanagement when asked at a Senate hearing whether the Fed missed risks at the firm.
Read more on wsj.comAbout this in other media
Fed’s Barr Calls Silicon Valley Bank a ‘Textbook Case of Mismanagement’ wsj.com /1 year ago
Fed's Barr calls Silicon Valley Bank failure a 'textbook case of mismanagement' cnbc.com /1 year ago
'How did this happen' — Powell says Fed stumped over the collapse of SVB cointelegraph.com /1 year ago
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