Fed’s Barr Wants More Oversight of Bank Executives’ Pay After SVB Collapse
- Also says supervisors must act faster when they spot problems
- Barr and other regulators to testify before House on Tuesday
This article is for subscribers only.
The Federal Reserve’s top bank watchdog is calling for more oversight of how bank executives are compensated after several lenders collapsed this year.
Senior executives at Silicon Valley Bank weren’t properly encouraged to manage the firm’s risk, said Michael Barr, the Fed’s vice chair for supervision. It’s the latest critique from US regulators about how executives ran the firm, known as SVB, before its collapse in March.