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January 10, 2023, Brazil. In this photo illustration, the Silicon Valley Bank (SVB) logo is displayed on a smartphone screen.
April 28th, 2023 - 04:20 GMT

US Federal Reserve failed to prevent SVB collapse

ALBAWABA- The U.S. Federal Reserve has published a report on its supervision and regulation of Silicon Valley Bank (S.V.B.), which failed in mid-March and became the largest bank failure since the 2008 financial crisis. The report , which is highly critical of the Fed, found that S.V.B.'s failure demonstrated "weaknesses in regulation and supervision that must be addressed." It blames Fed overseers for failing to "take forceful enough action" and ...
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