Fed inquiry into SVB collapse says Bowman’s supervision could prevent failure
A new Federal Reserve inquiry into Silicon Valley Bank’s 2023 collapse found bank-supervision staff in the Biden era could have anticipated and prevented the failure, according to Michelle Bowman, who now leads Fed bank supervision.
A new Federal Reserve inquiry into the 2023 collapse of Silicon Valley Bank found that bank-supervision staff in the Biden era could have anticipated and prevented the bank's failure, Michelle Bowman said. Bowman, who now leads the Fed's bank supervision, said the finding points to a failure by supervisory staff to foresee and stop the bank's collapse.