Fed and Lawmakers Address Regulatory Flaws in Wake of Silicon Valley Bank Collapse
Officials from the Biden administration wanted to include regulatory shortcomings in the joint statement announcing the government rescue of depositors at Silicon Valley Bank and Signature Bank, but Federal Reserve Chair Jerome H. Powell blocked the mention. The statement only referred to positive regulation changes enacted after the 2008 financial crisis. Questions remain about the Fed's oversight of Silicon Valley Bank, and the central bank announced a review of the bank's supervision and regulation. The demise of Silicon Valley Bank has fueled calls for a review of whether large lenders that are not huge enough to be deemed globally systemic should still be subject to tighter rules. President Biden has renewed a call for tighter financial regulation.
- Fed Blocked Mention of Regulatory Flaws in Silicon Valley Bank Rescue The New York Times
- The SVB Collapse Investigations: What to Know | WSJ Wall Street Journal
- Jeffries meets with San Francisco Fed following Silicon Valley, Signature bank collapses The Hill
- Editorial: Don't let incompetent bank executives derail the Fed's inflation battle Chicago Tribune
- After SVB Collapse, Fed and Lawmakers Eye Bank Rules The New York Times
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