Fed official: SVB itself was main cause of bank's failure

Summary by Boston Globe

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.

Published 2 months ago · Santa Clara, United States

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Times of India

Fed official: SVB itself was main cause of bank's failure

International Business News: WASHINGTON: The nation's top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for the bank's failure ea.

2 months ago·Mumbai, India

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CTV News

Silicon Valley Bank main cause of its own failure: U.S. official

The nation's top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for the bank's failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.

2 months ago·Toronto, Canada

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NDTV

"Textbook Case Of Mismanagement": Top Official On Silicon Valley Bank

The collapse of Silicon Valley Bank (SVB) was a "textbook case of mismanagement" which requires tougher banking regulation, according to prepared remarks by a top Federal Reserve official. "SVB failed because the bank's management did not effectively manage its interest rate and liquidity risk," the Fed's vice chair for supervision Michael Barr said in remarks released ahead of a Senate hearing Tuesday. He added that its failure "demands a thoro…

2 months ago·New Delhi, India

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USA Today

Fed Official: SVB itself was main cause of failure

2 months ago·United States

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Associated Press News

Fed official: Bank rules under review in wake of SVB failure

The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said

2 months ago·United States

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