Fed supervision vice chair details initial findings of SVB review
Michelle Bowman, Fed vice chair for supervision, announces initial findings from an independent review into Silicon Valley Bank’s 2023 collapse, citing a confluence of vulnerabilities including unrealized accounting losses.
Michelle Bowman, Vice Chair for Supervision at the Federal Reserve Board of Governors, announced the initial findings of the independent review into Silicon Valley Bank's collapse in 2023. Bowman said SVB failed because of a confluence of vulnerabilities, including real but unrealized accounting losses on its securi…