New Report Raises Questions Over Fed’s Handling Of Silicon Valley Bank Risks

Federal Reserve staff knew, or should have known, that Silicon Valley Bank faced serious vulnerabilities before its 2023 collapse, according to a new outside review announced by Fed Vice Chair for Supervision Michelle Bowman.

Consulting firm Starling Advisory Group conducted the review, which goes further than a 2023 internal assessment led by former Fed supervisory chief Michael Barr. That earlier review concluded that regulators had been too cautious in responding to the crisis.

The new review found that 94% of SVB’s deposits were uninsured and heavily concentrated among venture capital-backed technology firms. Federal regulators ultimately intervened to close the bank and protect depositors.

Barr left his supervisory post in February 2025. President Donald Trump later selected Bowman for the position. The findings could lead to renewed scrutiny of Barr’s role, although Bowman did not name him in her remarks.

Related Tweet:

Speech by Vice Chair for Supervision Bowman on initial findings from independent review of Silicon Valley Bank @cityoflondon: https://t.co/bwMO9Yx7zA

Watch live: https://t.co/AJD4jD4Fsa

Learn more about Vice Chair for Supervision Bowman: https://t.co/tWe5lT3FDv

— Federal Reserve (@federalreserve) September 18, 2026

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