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Washington (AFP) - US lawmakers accused regulators Tuesday of failing to do enough to prevent the collapse of Silicon Valley Bank earlier this month, despite knowing it was over-exposed to the risk of rising interest rates.

Tuesday marked the US Senate’s first public hearing into the collapse of Silicon Valley Bank in early March.

The Australian share market has closed higher for its third day in a row, while the ABS's latest inflation data shows cost-of-living pressure are easing, which may strengthen the case for the Reserve Bank to keep interest rates on hold next week.

A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse

Regulators faced the U.S. Senate Committee in the collapse of Silicon Valley Bank and Signature Bank as the banks to address risk

Top U.S. financial officials on Tuesday outlined what’s likely to be the biggest regulatory overhaul of the banking sector in years, in an initiative aimed at addressing underlying issues that contributed to the collapse of Silicon Valley Bank and other U.S. regional lenders.

A huge open question is not whether bank supervisors can identify problems but what ought to happen when they do.

Lawmakers grilled U.S. financial regulators Tuesday on the Silicon Valley Bank and Signature Bank failures during a Senate hearing.

Watch live as a US Senate committee holds a hearing on the collapse of Silicon Valley Bank.

Stock futures slip lower as bank sector worries clip sentiment; Fed supervisor Barr to face Senate lawmakers on SVB collapse; Lyft shares leap as founders step aside for new CEO David Risher; Occidental shares jump as Warren Buffett adds more shares to holding and Alibaba shares spike on plans to…

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse