The failure of Silicon Valley Bank demonstrates a “textbook case of mismanagement,” the Federal Reserve’s top banking regulator is expected to tell Senate lawmakers on Tuesday
“SVB failed because the bank’s management did not effectively manage its interest rate and liquidity risk, and the bank then suffered a devastating and
unexpected run by its uninsured depositors,” said Michael Barr, the Fed’s vice chairman for supervision, in written testimony released by the central bank.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Barr calls Silicon Valley Bank failure a 'textbook case of mismanagement'The Federal Reserve's top banking regulator said Monday that the failure of the Silicon Valley Bank was due largely to mismanagement.
Read more »
Valley National, First Citizens bidding for Silicon Valley: reportValley National Bank and First Citizens BancShares have reportedly submitted bids for the failed Silicon Valley Bank following it's collapse earlier this month.
Read more »
Silicon Valley’s Reckoning | Event | Consensus 2023 | CoinDeskVenture capitalists grapple with the hard lessons of 2022 and the growing mistrust, in certain corners, of some VCs’ motives. They discuss future best practices for token lockups and vesting, partner distributions and ways to make project tokenomics sustainable. If the Valley is to end its addiction to outsized, 100x bets, such those it placed on CeFi crypto’s “number go up” exchanges and lenders, can VCs instead identify more socially impactful ventures – and live with the prospect of thinner returns?
Read more »
House GOP demands Biden reveal Chinese ties to Silicon Valley BankHouse Republicans are pushing for an investigation of the Chinese Communist Party’s ties to the collapsed Silicon Valley Bank.
Read more »
Nearly $120 Billion of Deposits Were Pulled From Small Banks as Silicon Valley FailedCustomers of small U.S. banks pulled a record $119.9 billion of deposits in the seven days ending March 15, data released by the Federal Reserve showed Friday.
Read more »