Fed pledges heightened supervision following SVB collapse
By 
Aaron Nicodemus2023-04-28T21:04:00
The Federal Reserve Board will likely recommend strengthening regulatory and supervisory procedures for mid-sized regional banks in the aftermath of the failure of Silicon Valley Bank (SVB).
An analysis of the failure of SVB—and the Fed’s inability to prevent it—was the subject of a report released Friday by the agency and its vice chair for supervision, Michael Barr. The Federal Deposit Insurance Corporation (FDIC) also released its own report Friday analyzing its supervision of New York-based Signature Bank.
SVB collapsed and entered receivership March 10. Signature Bank followed suit March 12.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
PremiumKPMG report: Bank supervision, cyber among reg focus areas for rest of year
A new report by KPMG on key regulatory challenges for the second half of 2023 warned financial institutions to prepare for increased scrutiny, while all companies should expect more questions on how they oversee their cybersecurity and data management programs.
-
PremiumFour takeaways from Senate hearings on SVB, Signature Bank failures
Leaders at Silicon Valley Bank, Signature Bank, and the regulators who seized their banks testified before Congress across separate hearings.
-
News BriefFDIC proposes large banks cover $15.8B in losses from SVB, Signature Bank failures
The Federal Deposit Insurance Corporation issued a notice of proposed rulemaking regarding a special assessment on large banks to recover approximately $15.8 billion in losses attributable to the failures of Silicon Valley Bank and Signature Bank.
More from Regulatory Policy
-
PremiumEU financial firms must prepare now for new rules on critical third-party arrangements
European banks and financial institutions must prepare now for stringent new rules on third-party suppliers.
-
ArticleTrump tirade against DEI turns to proxy advisors and shareholder proposals
President Donald Trump has directed the Securities and Exchange Commission (SEC) to review—and remove—any SEC rules or guidance that allow proxy advisors to influence business practices related to diversity, equity and inclusion (DEI) and environmental, social and governance (ESG) policies.
-
ArticleTrump takes aim at state AI laws, promises federal action on AI legislation
President Donald Trump has issued an executive order aimed at dismantling the artificial intelligence (AI) laws of California, Colorado and three other states with comprehensive laws.