Fed’s Bowman Says Bank Regulations Are Not to Blame for SVB Failure
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US banking regulations weren’t to blame for the recent failures of two midsized lenders, according to Federal Reserve Governor Michelle Bowman.
Bowman, who was appointed to the central bank by President Donald Trump, is the latest official to weigh in on the causes of the failures of Silicon Valley Bank, SVB, and Signature Bank. Her comments appear to contrast with those of Michael Barr, the Fed’s top bank regulator, who recently said that supervisors could have done more to keep tabs on SVB before it collapsed.