The Federal Reserve's bank supervisors informed Silicon Valley Bank's management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said on Tuesday, but the bank's managers failed to take the steps necessary to fix its problems.
The Fed official, Michael Barr, the nation's top banking regulator, said during a Senate Banking Committee hearing that the Fed is considering whether stronger bank rules are needed to prevent a similar bank failure in the future. Читать дальше...