In a Senate hearing, several top officials from the Federal Reserve criticized the executives of Silicon Valley banks for their handling of risk management and compliance. The hearing, which took…
Tag: Bank
Fed Vice Chair Calls Silicon Valley Bank a ‘Textbook Case of Mismanagement’
The Federal Reserve Vice Chair, Randal Quarles, has recently criticized Silicon Valley Bank for mismanagement. In a statement made during a speech in California, Quarles referred to the bank as…
A Big Question for the Fed: What Went Wrong With Bank Oversight?
For years, the Federal Reserve has been tasked with overseeing banks and their practices to ensure the stability of the financial system. However, recent events have called into question the…
Powell and Yellen Suggest Need to Review Regulations After Bank Failures
As the United States continues to struggle with the aftershocks of the COVID-19 pandemic, there have been calls for a review of financial regulations in the wake of multiple bank…
Fed Meets as Bank Chaos Collides With Inflation
The Federal Reserve entered 2023 focused on a central goal: wrestling down the rapid inflation that has plagued American consumers since 2021. But over the past two weeks, that job…
Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems
WASHINGTON — Silicon Valley Bank’s risky practices were on the Federal Reserve’s radar for more than a year — an awareness that proved insufficient to stop the bank’s demise. The…
After SVB Collapse, Fed and Lawmakers Eye Bank Rules
The Federal Reserve is facing criticism over Silicon Valley Bank’s collapse, with lawmakers and financial regulation experts asking why the regulator failed to catch and stop seemingly obvious risks. That…
Credit Suisse to Borrow as Much as $54 Billion From Swiss Central Bank
Credit Suisse said on Thursday that it plans to borrow as much as $54 billion from the Swiss central bank to improve its liquidity after the lender’s shares plunged to…
‘I am personally sticking with SVB.’ Prominent tech figures pledge support for bank
CNN — After a rollercoaster week for Silicon Valley Bank’s customers, some prominent voices in the tech world are now publicly saying they will keep their money with the embattled…
The European Central Bank Meets to Raise Rates Amid Uncertainty
For weeks, policymakers at the European Central Bank have all but declared that the bank would raise interest rates by half a percentage point on Thursday, following through on plans…