The Federal Reserve Board on Monday announced that Vice Chair for Supervision Michael S. Barr is leading a review of the supervision and regulation of Silicon Valley Bank, in light of its failure. The review will be publicly released by May 1.
Add your comment!US President Joseph Biden said his country's banking system was safe in the aftermath of last week's collapse of Silicon Valley Bank, a California financial giant specialized in the technology sector. Biden insisted Monday that Americans can trust that the banking system is safe, and said he would seek to move forward with stronger regulations.
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