38.1 F
New York
Tuesday, December 5, 2023

Fed in part blames Trump-era bank deregulation for Silicon Valley Bank failure

Must read

Share Me


The Federal Reserve on Friday issued its analysis of last month’s failure of Silicon Valley Bank, identifying managerial and regulatory incompetence as well as “a shift in the stance of supervisory policy” following the passage of a 2018 law that eased regulations on midsize banks as the main culprits for SVB’s demise.

“SVB failed because of a textbook case of mismanagement by the bank,” wrote Michael Barr, the Fed’s vice chairman for supervision, in a Friday letter to his colleagues, noting that both senior leadership and…


Source link

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

Latest article