All articles tagged with #michael barr
The Federal Reserve's vice chair for supervision, Michael Barr, indicated that the central bank is unlikely to extend the Bank Term Funding Program, an emergency loan program initiated during the regional banking crisis last year, as it has served its purpose in alleviating stress in the financial system. The temporary program is scheduled to expire on March 11.
The Federal Reserve's Vice Chair for Supervision, Michael Barr, released a report on Silicon Valley Bank's failure, which mainly serves to protect the Fed and bolster the Biden Administration's financial regulatory agenda. The report concedes that examiners at the San Francisco Fed flagged numerous problems at SVB well before its failure, but it says they were handcuffed by higher-ups in Washington and a 2018 law that eased regulations on mid-sized banks. The solution to regulatory failure is always to give regulators more power, but this approach may not be effective.