The head of the Federal Reserve's regulatory division will conduct a six-week investigation into the Silicon Valley Bank incident

ChainCatcher news, Michael Barr, the Vice Chairman of the Federal Reserve responsible for bank supervision, issued a statement on Monday announcing a thorough investigation into the rapid collapse of Silicon Valley Bank (SVB), with a six-week investigation period, and results to be published on May 1.
It is reported that Barr previously served as a U.S. Treasury official and briefly worked as an advisor for Ripple. Earlier on Monday, President Biden stated that he would call on Congress and federal regulators to strengthen oversight of the banking industry. (CoinDesk)