By Matt Egan, CNN New York (CNN) — Staffers at the Federal Reserve knew or should have known about the severe trouble mounting at Silicon Valley Bank, but failed to act before the lender’s implosion set off a mini-banking crisis in 2023, according to an independent review revealed on Friday.
A new review of the Silicon Valley Bank collapse found Federal Reserve supervisory staff “knew or should have known” about the institution’s vulnerabilities, Michelle Bowman, the Fed's vice chair for supervision, said Friday.
Identical headlines usually mean shared wire copy. They are counted as separate articles but are not independent confirmation.
Fed report finds it was ‘too timid’ in tackling risks at Silicon Valley Bank | Since Then
