Fed Opens Probe of SVB Oversight Amid Criticism After Collapse

The Federal Reserve is launching an internal probe of its supervision of Silicon Valley Bank after its collapse sparked sharp criticism of the central bank’s oversight.

Vice Chair for Supervision Michael Barr will lead the review, due for public release by May 1, the Fed said Monday. The collapse of the lender, which was overseen by the Federal Reserve Bank of San Francisco, was the biggest bank failure in more than a decade.

Read More: US Backstops Bank Deposits to Avert Crisis After SVB Failure

“The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the ...