Republicans request Fed and FDIC oversight records for failed Silicon Valley Bank and Signature Bank
Publishing timestamp: 2023-03-20 16:36:27
Summary
Top Republicans on committees overseeing the US financial system have sent letters to the Federal Reserve Chair and FDIC Chair requesting documents and personnel records related to oversight of Silicon Valley Bank and Signature Bank, which failed over the last 11 days. The letters come as Congress seeks to learn more about how the second-largest bank collapse in US history unfolded earlier this month. While Republicans suggest that culpability may lie with individual regulators, Democrats are calling for more stringent regulations and capital requirements for mid-sized banks.
Sentiment: MIXED
Tickers: SBNY,
Keywords: congress, white house, economy, washington, united states, signature bank, patrick mchenry, breaking news: politics, business news, politics,