House committee calls Fed, FDIC officials to testify in its first hearing on bank failures
Publishing timestamp: 2023-03-17 18:51:57
Summary
The House Financial Services Committee has announced its first hearing on the failures of Silicon Valley Bank and Signature Bank, with the chairman of FDIC board of directors and the vice chair for supervision for Federal Reserve board of governors scheduled to testify. The announcement follows President Biden's request to Congress to allow regulators to claw back compensation from executives of failed banks. The committee aims to understand why and how these banks failed and is committed to delivering answers to protect depositors and strengthen the financial system.
Sentiment: NEUTRAL
Keywords: united states house of representatives, breaking news: politics, politics, svb financial group, business news, signature bank, u.s. economy,