WASHINGTON, March 29 ― US lawmakers accused regulators yesterday of failing to do enough to prevent the collapse of Silicon Valley Bank earlier this month, despite knowing it...
WASHINGTON, March 29 ― US lawmakers accused regulators yesterday of failing to do enough to prevent the collapse of Silicon Valley Bank earlier this month, despite knowing it was over-exposed to the risk of rising interest rates.
Barr, FDIC chair Martin Gruenberg and Treasury undersecretary for domestic finance Nellie Liang faced questions from the bipartisan committee of lawmakers on the extent to which they could have prevented SVB's failure. “In spite of all the preparation and tools at your disposal, the FDIC failed to do its job,” Republican Bill Hagerty said during the hearing.
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