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Silicon Valley Bank collapse: Textbook case of mismanagement
According to a top Federal Reserve official, the failure of Silicon Valley Bank (SVB) was a classic case of mismanagement that calls for more banking supervision. In statements made public before of a Senate hearing on Tuesday, Michael Barr, the Fed's vice chair for supervision, stated that "SVB collapsed because the bank's management did not adequately manage its interest rate and liquidity risk."
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