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Barr: Bank Oversight
Chairman Brown, Ranking Member Scott, and other members of the Committee, thank you for the opportunity to testify today on the Federal Reserve's supervisory and regulatory oversight of Silicon Valley Bank (SVB). Our banking system is sound and resilient, with strong capital and liquidity. The Federal Reserve, working with the Treasury Department and the Federal Deposit Insurance Corporation (FDIC), took decisive actions to protect the U.S. economy and to strengthen public confidence in our banking system. These actions demonstrate that we are committed to ensuring that all deposits are safe. We will continue to ... (full story)
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FEDERAL RESERVE VICE CHAIR FOR SUPERVISION MICHAEL BARR TO TELL CONGRESS BANKING SYSTEM IS 'SOUND AND RESILIENT' - TESTIMONY
— *Walter Bloomberg (@DeItaone) March 27, 2023
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BARR TO SAY WE ARE PREPARED TO USE ALL OF OUR TOOLS FOR ANY SIZE INSTITUTION AS NEEDED TO KEEP SYSTEM SAFE
— *Walter Bloomberg (@DeItaone) March 27, 2023
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FED'S BARR TO SAY: SVB WAITED FAR TOO LONG TO ADDRESS ITS ISSUES.
— Breaking Market News (@financialjuice) March 27, 2023
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BARR - IT APPEARED CONTAGION FROM SVB'S FAILURE COULD BE FAR-REACHING AND DAMAGE BROADER BANKING SYSTEM
— PiQ (@PriapusIQ) March 27, 2023