The Latest Breaking News from Michael Barr

The Federal Reserve is scheduled Friday to release a highly-anticipated review of its supervision of Silicon Valley Bank, the go-to bank for venture capital firms and technology start-ups that failed spectacularly in March, setting off a crisis of confidence for the banking industry

The Federal Reserve and the FDIC are set to report Friday on their oversight of two failed banks. The banks' collapse six weeks ago rocked credit markets and raised the risk of recession.

Late in 2018, two Trump-appointed banking regulators, Federal Reserve Vice Chair Randal Quarles and FDIC Chair Jelena McWilliams, went on a nationwide tour to meet with regional bank examiners.

The administration wants to reverse some Trump-era policies

Weeks after the failure of two banks, Treasury Secretary Janet Yellen is planning to call Thursday for tighter financial regulations

President Joe Biden is expected to tighten regulations on banks, prompted by the biggest banking collapse since the 2008 crisis

"The model-based financial supervision of today" is broken, and regulators need to go back to being more hands on, James Thomson and Walker Todd say.

The Federal Reserve’s top bank regulator on Wednesday said that supervisors could have done more to keep tabs on Silicon Valley Bank before it collapsed earlier this month.

Republican lawmakers accused top bank regulators of dawdling as Silicon Valley Bank hurtled toward the second-largest bank failure in U.S. history and questioned whether tougher regulations would have made a difference

Amid all the finger-pointing, Senators and speakers said more monitoring was needed in the banking sector.

Michael Barr, the nation’s top banking regulator, said Silicon Valley Bank was warned in the fall of 2021 that its interest rate model was not ‘aligned with reality.’