The Bank Slate


Fed vice chair to review SVB supervision

A high-ranking Federal Reserve official will oversee the post-mortem for Silicon Valley Bank.

The Fed said in a press release that Michael Barr, its vice chair for supervision, is leading a review of the supervision and regulation of Silicon Valley Bank. The review will be released by May 1.

“The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve,” Fed Chair Jerome Powell said in the release.

“We need to have humility and conduct a careful and thorough review of how we supervised and regulated this firm, and what we should learn from this experience,” Barr added.

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