Salem Radio Network News Friday, June 2, 2023


Fed official: SVB itself was main cause of bank’s failure


( ) -q-25- UNDATED (Correspondent Jeremy House) “its bond holdings.”

The nation’s top financial regulator is asserting that Silicon Valley Bank’s own management was largely to blame for the bank’s failure earlier this month.

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Out-cue: its bond holdings]

TAG: Correspondent Jeremy House reporting.

TAG: Michael Barr, the Fed’s vice chair for supervision, says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse. Barr pointed to the bank’s “concentrated business model,” in which its customers were overwhelmingly venture capital and high-tech firms in Silicon Valley. He also contends that the bank failed to manage the risks of its bond holdings.

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