US Federal Reserve watchdog launches probe of Silicon Valley Bank supervision
Edited By WION Video Desk
Published: Mar 28, 2023, 19:30 IST | Updated: Mar 28, 2023, 19:30 IST
An investigation into Silicon Valley Bank's (SVB) failure has been started by the Office of Inspector General (OIG) of the US Federal Reserve, an OIG representative announced on Tuesday. 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.
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