According to the official publication from 13 March 2023, Bar and his team will review how SVB was regulated and supervised by Fed before its collapse in search of potential negligence that could explain the reasons for the sudden bankruptcy of the institution. The final results will be released to the public by 1 May 2023.
"The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve. We need to have humility, and conduct a careful and thorough review of how we supervised and regulated this firm, and what we should learn from this experience," Jerome H. Powell, the Chairman of the Federal Reserve Board, commented.
