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Search resuls for: "Michael Barr ,"


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☆ Regulators to Publish Postmortems on Silicon Valley Bank, Signature Failures
  + stars: | 2023-04-28 | by ( Andrew Ackerman | ) www.wsj.com   time to read: 1 min
Illustration: Alexandra LarkinWashington regulators plan to release postmortems of their oversight of Silicon Valley Bank and Signature Bank before they abruptly collapsed last month, potentially highlighting missteps by both banks’ management and their federal supervisors. The Federal Reserve is expected to release a report Friday morning digging into its handling of SVB, the culmination of a review led by Michael Barr , the Fed’s vice chair for supervision. A second report, expected later in the day from the Federal Deposit Insurance Corp., will analyze that agency’s oversight of Signature.
☆ Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse
  + stars: | 2023-04-28 | by ( Andrew Ackerman | Ben Eisen | ) www.wsj.com   time to read: 1 min
Illustration: Alexandra LarkinThe Federal Reserve’s banking supervisors failed to take forceful action to address growing problems at Silicon Valley Bank before it collapsed last month, the central bank’s top regulator said, signaling a broad push to toughen rules on the industry. Michael Barr , the Fed’s vice chair for supervision, said supervisors didn’t fully appreciate the extent of the vulnerabilities as SVB grew in size and complexity. When supervisors did find risks, they didn’t take sufficient steps to ensure the firm fixed those problems quickly enough, he said in a report Friday.
☆ Fed Rethinks Loophole That Masked Losses on SVB’s Securities
  + stars: | 2023-04-21 | by ( Andrew Ackerman | Rachel Louise Ensign | ) www.wsj.com   time to read: 1 min
The collapse of Silicon Valley Bank, which held $200 billion in assets, has sent shock waves through Wall Street and Main Street. WSJ’s Dion Rabouin explains what this means for investors and everyday Americans worried about a broader, systemic problem in the U.S. banking system. Illustration: Preston JesseeWASHINGTON—The Federal Reserve may close a loophole that allows some midsize banks to effectively mask losses on securities they hold, a contributing factor in the collapse of Silicon Valley Bank. Led by vice chair for supervision Michael Barr , the Fed is considering ending an exemption that allows some banks to boost the amount of capital they report for regulatory purposes, according to people familiar with the matter. Capital is the buffer banks are required to hold to absorb potential losses.
☆ Lawmakers Scold Fed Over Silicon Valley Bank Collapse
  + stars: | 2023-03-28 | by ( Andrew Ackerman | David Harrison | Andrew Duehren | ) www.wsj.com   time to read: 1 min
Senators rebuked the Federal Reserve for failing to prevent the collapse of Silicon Valley Bank despite identifying risks beforehand, while the central bank’s top regulator blamed the firm’s executives for not fixing its problems. In an appearance Tuesday before the Senate Banking Committee, Michael Barr , the Fed’s vice chairman for banking supervision, defended the actions of the Fed’s supervisors and said the central bank had privately raised concerns with SVB before its March 10 collapse and had given the lender poor ratings for managing its risks.
☆ Fed Official Calls Silicon Valley Bank Failure a ‘Textbook Case of Mismanagement’
  + stars: | 2023-03-27 | by ( Andrew Ackerman | ) www.wsj.com   time to read: 1 min
Michael Barr, the Fed’s top banking regulator, says the central bank is reviewing its supervision of Silicon Valley Bank. WASHINGTON— The failure of Silicon Valley Bank demonstrates a “textbook case of mismanagement,” the Federal Reserve’s top banking regulator is expected to tell Senate lawmakers on Tuesday, while acknowledging there may have been shortcomings in the central bank’s oversight. “SVB failed because the bank’s management did not effectively manage its interest rate and liquidity risk, and the bank then suffered a devastating and unexpected run by its uninsured depositors,” said Michael Barr , the Fed’s vice chairman for supervision, in written testimony released by the central bank.
☆ Fed’s Top Banking Regulator Signals Tougher Bank-Capital Rules
  + stars: | 2022-12-01 | by ( Andrew Ackerman | ) www.wsj.com   time to read: 1 min
Michael Barr, the Fed’s vice chairman for banking supervision, suggested overall capital requirements appeared to be lower than they ought to be. WASHINGTON—The Federal Reserve’s new regulatory chief on Thursday signaled plans to beef up big-bank capital requirements, potentially revisiting financial rules that were eased during the Trump administration. Michael Barr , the Fed’s vice chairman for banking supervision, said that the central bank is still conducting a broad review of its capital requirements but suggested the overall requirements appeared to be lower than they ought to be.
☆ Fed’s Michael Barr Says Crypto Turmoil Highlights Potential Risks to Financial System
  + stars: | 2022-11-15 | by ( Andrew Ackerman | ) www.wsj.com   time to read: 1 min
WASHINGTON—Tumult in the cryptocurrency market represents a red flag to the broader financial system, the Federal Reserve’s top banking regulator plans to tell lawmakers Tuesday, while pressing for tougher guardrails in the wake of the rapid collapse of crypto exchange FTX. Michael Barr , the Fed’s vice chairman for supervision, is expected to tell lawmakers that crypto-related activities need to be regulated in a manner similar to more traditional financial services providers, according to written remarks distributed ahead of Tuesday’s hearing before the Senate Banking Committee. While most crypto activities are occurring “outside of the ambit of banking regulation,” he said, that could change over time.
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