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Fed vice chair Barr to lead review of SVB regulation

US regulatory system 'failed' to prevent SVB collapse: Fed official

Federal Reserve Vice Chair Michael Barr will lead a review of the supervision and regulation of Silicon Valley Bank “in light of its failure,” the central bank announced Monday.

“The events surrounding Silicon Valley Bank demand a thorough, transparent, and swift review by the Federal Reserve,” said Fed Chair Jerome Powell, according to the statement. The review will be publicly released by May 1.

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Agence France-Presse (AFP) is a French state-owned international news agency based in Paris. It is the world's oldest news agency, having been founded in 1835 as Havas.

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