Economy

U.S. Federal Reserve Announces Review of Silicon Valley Bank

The U.S. Federal Reserve has announced that it will be conducting a review of the supervision and regulation of Silicon Valley Bank. This move comes after the bank's recent failure.

, and Uzay Erol

March 13, 2023 . 8:19 PM

1 min read

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Fed Chairman Demands Thorough Review

Fed Chairman Jerome Powell stated that the bank's failure demands a "thorough, transparent, and swift review." He emphasized the importance of conducting a comprehensive investigation into the matter.

Fed Vice Chairman to Lead Review

Fed Vice Chairman for Supervision Michael Barr will lead the Silicon Valley Bank review. The review results will be publicly released by May 1, ensuring transparency and accountability in the process.