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Fed official: SVB itself was main cause of bank's failure

Por: WPLG Local 10 Politics March 27, 2023

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WASHINGTON – The nation's top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for and says the Federal Reserve will review whether also contributed to its collapse. “SVB's failure is a textbook case of mismanagement,” Michael Barr, the Fed’s vice chair for supervision, said in written testimony that will be delivered Tuesday at a hearing of the Senate Banking Committee. Barr... + full article



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