Fed report on SVB collapse raises concerns over US banking system.

1 min read
Source: CNN
Fed report on SVB collapse raises concerns over US banking system.
Photo: CNN
TL;DR Summary

The Federal Reserve is set to release its investigation report on the collapse of Silicon Valley Bank (SVB), the second-biggest in US history, on Friday. Former Fed official Randal Quarles doesn't expect the report to uncover any smoking guns, but it will identify things that need to be looked at without having final recommendations. SVB's failure was due to mismanagement, and the report will review SVB's growth and management, supervisory engagement, and regulatory requirements. The report may recommend changing the process for elevating issues supervisors identify up the chain of command.

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