Citing apparent oversights in the supervision of one of
three banks to fail in March, the Federal Reserve’s Office of Inspector General
scrutinized multiple aspects of the bank examiners’ approach in a detailed
report, which could serve as a cautionary tale concerning the implications of
lackluster supervisory approaches.
The report highlights a series of supervisory shortcomings with
respect to Silicon Valley Bank, pointing to internal documents describing
meetings in which supervisors shared their findings and proposed actions to be
taken.