Regulatory risk aversion contributed to SVB failure – Bowman
Supervisors ‘knew, or should have known’ about risks a year before bank’s collapse, says Fed vice-chair
Federal Reserve staff “knew, or should have known”, about the risks surrounding Silicon Valley Bank for at least a year before its collapse, Michelle Bowman has said.
The Fed’s vice-chair for supervision told attendees at a formal lunch on September 18 in the City of London about the initial findings of an independent report, commissioned by the Fed but conducted by consultancy Starling Advisory
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