Fed review finds supervisory delays contributed to Silicon Valley Bank failure

An independent review of Silicon Valley Bank's (SVB) 2023 failure has found that Federal Reserve supervisory staff knew, or should have known, about key vulnerabilities at the bank as early as March 2022, but failed to take prompt and decisive action to address them. The initial findings were released by Federal Reserve Vice Chair for Supervision Michelle Bowman at the Lord Mayor of London's luncheon at Mansion House on Friday. Bowman said the review by Starling Advisory Group examined whether s...