April 14 (Reuters) – Federal Reserve Governor Michelle Bowman stated on Friday that the latest failures of Silicon Valley Financial institution and Signature Financial institution weren’t an indictment of the financial institution regulatory panorama, though she conceded that some modifications could also be warranted.
In ready remarks, Bowman stated if the Fed identifies gaps in its financial institution supervision and regulation regime throughout its overview of the failure of SVB, the central financial institution ought to deal with these shortcomings.
Fed Vice Chairman for Supervision Michael Barr is main a overview of the Fed’s oversight of SVB, with the outcomes of that overview anticipated to be publicly launched by Might 1.
Reporting by Hannah Lang in Washington
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