Fed official cites risk-aversion culture in SVB exam failures
A top Federal Reserve official said examiners’ “culture of risk aversion” contributed to Silicon Valley Bank’s collapse, according to initial findings from a review of the 2023 bank failure.
A top Federal Reserve official said on Friday that a "culture of risk aversion" among examiners contributed to the collapse of Silicon Valley Bank, rather than relaxed oversight, in remarks that flagged the initial findings of a review of the 2023 bank failure.