Detailing Oversight Lapses
By Staff Reporters
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The Fed says it’s time for new bank rules
Just in time for a new looming bank failure, the Federal Reserve issued a 102-page report dissecting the corpse of Silicon Valley Bank. Meanwhile, FRB [First Republic Bank] FRB was just sold to JPMorgan Chase.
LINK: https://medicalexecutivepost.com/2023/05/01/daily-update-frb-bidding-sold-to-jpmorgan-chase/
The Fed pointed the finger at both its own inadequate supervision and the bank’s management.
CITE: https://www.r2library.com/Resource
And in an accompanying letter, Michael Barr, the Fed’s vice chair for supervision, called for stricter rules to be applied to more financial institutions and for more tools to be given to regulators to bring firms with poor capital planning and risk management into line.
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Filed under: "Ask-an-Advisor", Breaking News, Ethics, Funding Basics, Insurance Matters, Investing, Risk Management | Tagged: bank, bank rules, banking, banks, fed, Fed banking rules, Federal Reserve, First Republic Bank, FOMC, FRB, Michael Barr, Silicon Valley Bank |
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