off-the-wire

Federal Reserve welcomes outside review of its supervision of Silicon Valley Bank- Barr

Kitco Media
By Reuters
Published:
Updated:
Reuters
March 28 (Reuters) - The U.S. Federal Reserve's head of banking supervision told lawmakers on Tuesday he believes it's appropriate for outsiders to conduct independent reviews of the central bank's oversight of Silicon Valley Bank, in addition to the regulator's own internal review.


"We expect and welcome independent reviews of our actions," said Fed Vice Chairman for Supervision Michael Barr to lawmakers on the Senate Banking Committee.


The Fed previously announced it would review its supervision of Silicon Valley Bank, which was shuttered by regulators March 10, and will release the results of that review to the public by May 1.


(Reporting by Hannah Lang in Washington)

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