Congressman Brad Sherman | Congressman Brad Sherman Official website
Congressman Brad Sherman | Congressman Brad Sherman Official website
Washington, D.C. -- On Wednesday, May 10, 2023, the Financial Services Subcommittee on Financial Institutions and Monetary Policy held a hearing titled “Federal Response to Recent Bank Failures” that examined events leading up to and surrounding the closure of Silicon Valley Bank (SVB), Santa Clara, CA, Signature Bank (Signature Bank), New York, NY; First Republic Bank, San Francisco, CA; and First Republic Bank, San Francisco, CA by state and federal banking regulators.
"A vital hearing," said Congressman Brad Sherman (CA-32). "We examined the federal response to the recent bank failures and discussed steps to take in order to strengthen our banking system moving forward."
The hearing reviewed activities and decisions of federal and state regulators, steps toward resolving the failed banks by the Federal Deposit Insurance Corporation (FDIC), and emergency measures taken by the U.S. Department of the Treasury, Board of Governors of the Federal Reserve System, and the FDIC.
Original source can be found here.
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