Fed Vice Chair for Supervision "Independent investigation needed for 2023 bank failures"
JH Kim
Summary
- Michelle Bowman, the Fed's Vice Chair for Supervision, stated that an independent investigation is needed into the 2023 bank failures.
- Vice Chair Bowman pointed out that other Fed members were restricted from investigating or commenting on the self-assessment by former Vice Chair Michael Barr.
- Although specific bank names were not mentioned, it was implied that the incident involved Silicon Valley Bank, Silvergate Bank, and Signature Bank.
Michelle Bowman, the Vice Chair for Supervision of the Federal Reserve (Fed), attended a Senate Banking Committee hearing and stated that an independent investigation is needed into the bank failures that occurred in March 2023 (Silicon Valley Bank, Silvergate Bank, Signature Bank).
According to Eleanor Terrett's X (formerly Twitter) account, the host of Crypto in America, Vice Chair Bowman pointed out that other Fed members were unable to investigate or comment on the self-assessment by former Vice Chair Michael Barr.
However, Vice Chair Bowman did not mention specific bank names.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
