Federal Reserve aware of Silicon Valley Bank's risky practices over a year before collapse: report
Silicon Valley Bank's collapse is likely to spark a push for stricter financial oversight.
The Federal Reserve was reportedly aware of Silicon Valley Bank’s risky practices more than a year before the California-based financial institution collapsed.
The Fed issued six citations after finding serious weaknesses in the bank's handling of risks during a 2021 review, The New York Times reported Sunday.
The bank did not fix its issues and by July 2022, it underwent a full supervisory review and was rated as having deficient governance and controls. Regulators restricted the bank to prevent it from using acquisitions to grow.
The San Francisco Federal Reserve Bank met last fall with senior leaders at Silicon Valley Bank to discuss the institution's ability to access cash in a crisis and how to weather rising interest rates.
Additional problems at the bank were discovered in early 2023 when it underwent what the Fed calls a "horizontal review," which assesses the risk management strength.
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Just like the abc agencies know people were on the list when they go off the rails.?
Last Edited by Coastie Patriot on 03/19/2023 07:40 PMCoastie Patriot
SIC SEMPER TYRRANIS
THE SAME PEOPLE WHO SAID NO GUNS BECAUSE OF POLICE NOW WANT TO DEFUND THE POLICE!!!!
Dr Thaddeus They
They don't really care whether the truth gets out, because the public no longer knows what's meant by "the truth."
Well, I mean, no one can tell the difference anymore between what's real and what's fake.
Anyway, the point is, I can tell you all of this, right out in the open, because it doesn't matter who knows about it. They won't know whether to believe it or not.-
X Files: Lost art of Forehead Sweat
A gun is a tool, Marion, no better or no worse than any other tool, an axe, a shovel or anything. A gun is as good or as bad as the man using it. Remember that.
-SHANE-
Jefferson Smith: You see, boys forget what their country means by just reading The Land of the Free in history books. Then they get to be men they forget even more. Liberty's too precious a thing to be buried in books, Miss Saunders. Men should hold it up in front of them every single day of their lives and say: I'm free to think and to speak. My ancestors couldn't, I can, and my children will. Boys ought to grow up remembering that . - MR Smith Goes To Washington-
to grow up remembering th
My oath to support and defend the constitution against all enemies foreign and domestic has no expiration date!!!
Ten Bears : It's sad that governments are chiefed by the double tongues. There is iron in your words of death for all Comanche to see and so there is iron in your words of life. No signed paper can hold the iron. It must come from men. Outlaw Josey Wales
United States
