Fed upping supervisory pressure as SVB collapse nears 1-year mark
By 
Aaron Nicodemus2024-02-21T15:59:00
It’s been nearly a year since Silicon Valley Bank (SVB) kicked off a run of U.S. bank failures, and the Federal Reserve Board has changed how it supervises mid-sized and large institutions as a result.
Since March 2023, the Fed has revamped its supervisory procedures to respond more quickly and forcefully once it identifies emerging risks mid-sized and large banks aren’t taking seriously enough, according to Michael Barr, the agency’s vice chair for supervision.
In a speech delivered Friday to the Columbia Law School Banking Conference in New York City, Barr said the Fed has sought to address the supervisory issues that failed to properly manage the deficiencies that led to the collapse of SVB, Signature Bank, and First Republic Bank last year.
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