Fed bank supervisor learned about SVB interest rate risks in mid-February

Washington – According to the Federal Reserve Bank, the US Federal Reserve’s chief bank supervisor first learned regarding the interest rate risks at the Silicon Valley Bank (SVB) in mid-February. Back then, just a few weeks before the California bank went bankrupt, Fed employees gave a presentation to the central bank’s leadership, said Michael Barr, head of the Fed’s banking regulator, on Tuesday before the US Senate in Washington.