Economy · World
Fed report criticizes handling of Silicon Valley Bank collapse
A report by the U.S. Federal Reserve's internal watchdog found that Fed staff were "too timid" in addressing the risks that led to the collapse of Silicon Valley Bank (SVB). The review, conducted by the Fed's Office of Inspector General, suggests that supervisors should have recognized SVB's vulnerabilities earlier. The report calls for an overhaul of bank supervision practices to prevent similar future failures. It indicates that Fed staff had information suggesting SVB was at risk but did not act decisively.
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- Centre (2): CNBC, Financial Times