U.S. Senator Elizabeth Warren on Sunday called for an independent probe into the recent failures of Silicon Valley Bank and Signature Bank and took specific aim at the head of the Federal Reserve Bank of San Francisco responsible for oversight of SVB.
and took specific aim at the head of the Federal Reserve Bank of San Francisco responsible for oversight of SVB.to the inspectors general of the U.S. Treasury Department, the Federal Deposit Insurance Corp and the Federal Reserve on Sunday, urging regulators to examine the recent management and oversight of the banks which collapsed earlier this month.
California regulators shuttered Silicon Valley Bank on March 10 and appointed FDIC as receiver. It was the largest U.S. bank collapse since Washington Mutual went bust during the financial crisis of 2008. On Friday, the bank's parent, SVB Financial GroupU.S. prosecutors are investigating the SVB collapse, a source familiar with the matter told Reuters last week.on Sunday she does not have faith in San Francisco Federal Reserve President Mary Daly in the wake of SVB's collapse.
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Elizabeth Warren calls for investigation into downfall of SVB, Signature BankSen. Elizabeth Warren is calling for an investigation of what led to the collapse of Silicon Valley Bank and Signature bank this month, demanding answers from the FDIC.
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SVB collapse: House to hold first hearing on SVB as lawmakers remain split on responseThe House is set to hold its first hearing on SVB's collapse, marking a significant step toward addressing the financial crisis. FinancialCmte will hold a hearing March 29 to question federal financial regulators on their response to the bank collapse.
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Congress announces March 29 hearing into failures of SVB and Signature BankFDIC chair Martin Gruenberg and Fed vice chair for supervision Michael Barr will appear before Congress on March 29 as part of a hearing into the collapse of SVB and Signature.
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House sets first hearing into SVB and Signature Bank failuresTop federal banking regulators will testify before a House panel this month in the first of several highly anticipated hearings on the Silicon Valley Bank and Signature Bank collapses.
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Bank failures like SVB are a reminder that ‘risk-free’ assets can still wreck portfoliosWhat went wrong with SVB's investment securities? Why it matters for markets and the Fed's inflation fight.
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