The Latest Breaking News from Michael Barr

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.’

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

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

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

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

The nation’s top financial regulator pledged that the Federal Reserve and other agencies will take whatever steps they deem necessary to protect depositors and the banking system two weeks after two large bank collapses triggered financial turmoil in the United States and Europe

A congressional hearing on Silicon Valley Bank’s failure will begin on Tuesday.

The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.

The Federal Reserve is facing stinging criticism for missing what observers say were clear signs that Silicon Valley Bank was at high risk of collapsing into what became the second-largest bank failure in U.S. history