Federal Reserve Vice Chair Criticizes Silicon Valley Bank’s Mismanagement Leading to Collapse
The collapse of Silicon Valley Bank (SVB) earlier this month was due to the bank’s management failing to address interest rate and liquidity risks, according to Michael Barr, the Federal Reserve’s vice chair for supervision.[0] Barr was testifying before the Senate banking committee alongside Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation, and Nellie […]
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