Comment on SVB was a 'textbook case of mismanagement' and the collapsed bank waited too long to fix its problems, Fed official says

SVB was a 'textbook case of mismanagement' and the collapsed bank waited too long to fix its problems, Fed official says

Silicon Valley Bank's HQ in Santa Clara, CaliforniaGetty Images Silicon Valley Bank was a "textbook case of mismanagement," a top Fed official has said. The collapsed bank grew quickly, and failed to manage interest rate and liquidity risks, Michael Barr said. SVB's failure could call for a tightening of banking rules to prevent similar incidents, he added.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News