3/13, 9:10 PM (Source: TeleTrader)
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Fed's Barr to lead review of Silicon Valley Bank

The Federal Reserve Board shared on Monday in a statement that Vice Chair for Supervision Michael Barr will be in charge of leading the review "of the supervision and regulation of Silicon Valley Bank," following its collapse.

Fed Chair Jerome Powell commented that "events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review," by the central bank.

Barr underlined that the review should be conducted in a "careful" manner in order to conclude how the firm was "supervised and regulated," adding that this event should be used as a learning experience.

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