In view of the recent failure of the Silicon Valley Bank in California, the Board of Governors of the Federal Reserve System (FED) has published a press statement to inform that the FED will launch an investigation into this matter, thereby reviewing the supervision of the bank and corresponding regulations. The Chairman of the Board noted that „the events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve“. The investigation will be led by Vice Chairman for Supervision, Michael S. Barr. A corresponding report is expected to be released by May 1, 2023.
Other Features
banks
financial stability
resilience
shareholders
wind-down
Date Published: 2023-03-13
Regulatory Framework: not applicable
Regulatory Type: information
Rules of Practice and Procedure
ID 26588
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