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Fed says it shares blame for Silicon Valley Bank’s collapse

Posted on AllSides April 28th, 2023
From The Left
Reuters/Kevin Lamarque

The Federal Reserve gave a damning assessment of its own oversight of Silicon Valley Bank, saying supervisors misjudged the lender’s problems and were too slow to act once they became clear.

The report released on Friday is part of the Fed’s review of the second-biggest bank failure in U.S. history. Led by Michael Barr, the Fed’s vice chair of supervision, the central bank signaled a coming overhaul of rules for medium-size lenders, plus changes to how the watchdog oversees the banks it regulates.

Barr called the review “a first step...

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