Fed to postmortem report on Silicon Valley Bank collapse on April 28
The Federal Reserve’s review of its oversight of Silicon Valley Bank SIVBQ will be released on April 28, the central bank announced Tuesday. Silicon Valley Bank was taken over by regulators in early March when it became clear that there was going to be a run on the bank.
As news spread about the bank’s fragile financial position, depositors planned to withdraw $142 billion in deposits from the bank. The Fed’s review is being led by Fed Vice Chair for Supervision Michael Barr. Last month, Barr told Congress that Fed staff was in close contact with SVB staff and management for more than a year about the management of the...
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