Fed report admits errors in SVB oversight
The Federal Reserve admitted its standards for Silicon Valley Bank “were too low” in a review of its oversight of the bank. The 118-page review, published today (April 28) took specific aim at the policy of tailoring regulatory treatment for mid-sized banks, which the Federal Reserve adopted during the presidency of Donald Trump.
The review, issued by vice-chair for supervision Michael Barr, found Fed supervisors failed to grasp that SVB was encountering new risks during its rapid expansion in
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