Cruz, Jordan Demand Answers From San Francisco Fed on SVB (2)

Two Republican lawmakers are seeking more information on the collapse of Silicon Valley Bank, citing frustration with the Federal Reserve Bank of San Francisco’s initial explanations for the failure.

Senator Ted Cruz of Texas and Representative Jim Jordan of Ohio are sending a letter to San Francisco Fed President Mary Daly on Tuesday, asserting that the regional bank “essentially failed“ to respond to a previous letter from Cruz seeking information on what led to SVB’s failure earlier in March.

The new letter obtained by Bloomberg expands the GOP’s examination into regulators’ oversight of the bank, requesting “all documents ...