The FDIC announced on Monday that First Citizens Bancshares Inc. is acquiring large pieces of SVB more than two weeks after the lender’s collapse caused turmoil in the banking system.
Former Treasury Assistant Secretary for Economic Policy Michael Faulkender calls out federal regulators' 'arrogance' around macroeconomic factors.demonstrates a "textbook case of mismanagement," the Federal Reserve’s top banking regulator is expected to tell Senate lawmakers on Tuesday, while acknowledging there may have been shortcomings in the central bank’s oversight.
Mr. Barr is leading a review of the Fed’s supervision of the firm, which is due by May. He said in the prepared remarks that the central bank is committed to ensuring it "fully accounts for any supervisory or regulatory failings, and that we fully address what went wrong."
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