New SVB Review Finds Fed Missed Repeated Warnings

Federal Reserve officials did not adequately respond to repeated warnings about Silicon Valley Bank's deteriorating financial condition before the bank failed in March 2023, according to a draft report by Starling Trust Sciences commissioned by Federal Reserve Vice Chair for Supervision Michelle Bowman. Bowman requested the outside review of the failure. The report's specific findings regarding which warnings were missed and when they were issued were not detailed in the Bloomberg report.

Next story